Ferragamo confirms Marco Gobbetti as CEO

Marco Gobbetti will retain his position at Salvatore Ferragamo for another two-year term, until 2026. The newly elected board of directors has also confirmed Gobbetti's role as general manager and CEO, currently holding 134,766 shares in the company listed on Euronext Milan, reported Pambianco News.

The company also confirmed Leonardo Ferragamo remains chairman and Angelica Visconti vice-chairman, while Pierre La Tour, the group's new CFO who began in March, has been appointed as the person in charge of preparing corporate financial documents, reported WWD.

In January Salvatore Ferragamo said its 2023 revenue fell 7.6 percent to 1.15 billion euros, as the brand continues to transition its product offering while simultaneously optimising its distribution network.

"The new board of directors will need to support the current medium-to-long-term strategy, which has yet to yield revenue recovery results, amidst the challenging transition towards a greater emphasis on new product offerings and distribution reorganization," commented analysts at Intesa Sanpaolo in a report.