Prada appoints Andrea Guerra as CEO
2022.12.06 08:34
Prada appoints Andrea Guerra as CEO
Budrigannews.com – Prada in Italy (OTC:) announced on Tuesday that it would appoint former Luxottica CEO Andrea Guerra as its new CEO.
Prada Holding S.p., the controlling shareholder, will present a recommendation for Guerra as the new CEO at a board meeting the following month. According to Reuters last week, the fashion group was planning to hire Guerra in a top management position to ease the transition to the next generation of the founding family. A., the luxury company said in a statement,
Prada CEO Patrizio Bertelli, 76, stated a year ago that he planned to hand over the reins of the group he leads with wife Miuccia Prada Bianchi to their 34-year-old son Lorenzo after overseeing a successful turnaround since 2017 to reverse a slide in sales.
They stated, “This is a fundamental step we have decided to undertake, while fully engaged in the company, to contribute more to the evolution of the Prada Group and ease the succession of Lorenzo Bertelli, the future leader of the Group.”
As of the end of 2021, Hong Kong-listed Prada has grown into a group with 365 directly operated shops and a yearly revenue of 3.7 billion euros ($3.8 billion), with 40% of that revenue coming from the Asia-Pacific region. Prada was founded in Milan in 1913 as a leather goods shop by Miuccia Prada’s grandfather and his brother.
