Benetton names Francesco Gori as non-exec Chairman

2015 consolidated revenues at Benetton amounted to 1,529 million euros (1,738 million dollars), down 1.2 percent from the previous year. Meanwhile, during the shareholders’ meeting, the company appointed Francesco Gori non-executive Chairman of the board.

Reports improved results

The indirect sales channel, which suffered from years of sharp contraction, recorded a gradual stabilisation in terms of both volumes and margins. The direct sales channel, following the adoption of the new retail model reported 6 percent growth in sales on a comparable basis.

Shops renewed with the "On Canvas" concept format performed even better, obtaining results on average 20 percent higher compared to previous formats. Consolidated EBITDA from ordinary activities amounted to 54 million euros (61.3 million dollars), an increase of 34.5 percent compared to 40 million euros (45.4 million dollars) in 2014. The operating profit from ordinary activities amounted to two million euros (2.2 million dollars), compared to an operating loss of 17 million euros (19.3 million dollars) in 2014, mainly due to the direct channel's improvement in profitability. The net loss pertaining to the Group in 2015 amounted to 46 million euros (52.2 million dollars).

The company announces board changes

The Benetton Group shareholders' meeting appointed the Board of Directors for 2016-2018. It appointed Marco Airoldi, Tommaso Barraco, Alessandro Benetton, Christian Benetton, Franca Bertagnin Benetton, Sabrina Benetton, Fabio Buttignon, Christian Coco, Francesco Gori, Alfredo Malguzzi and Francesco Panfilo as directors on its board.

The meeting also appointed Francesco Gori non-executive chairman of the board. Gori joined Pirelli in 1978. After gaining a wide range of experiences in Italy and abroad, Gori was appointed managing director of Pirelli & C. in 2001 and CEO of Pirelli Tyre in 2006. In 2012, he left the Pirelli group of his own accord. Today Gori is an industrial advisor to Idea Capital Funds SGR (De Agostini Group) and non-executive director of Snam Spa, Messaggerie Italiane Spa and Apollo Tyres.

The Benetton Group board of directors also confirmed Marco Airoldi as Chief Executive Officer and Managing Director of the company. The board also appointed Alfredo Malguzzi, Tommaso Barraco, Fabio Buttignon and Christian Coco as members of the committee, assigning the office of Chairman to Alfredo Malguzzi.

Picture:benettongroup.com