Reported 4 months ago
Claudio Sforza, an Italian executive, is set to become the new CEO of Benetton, replacing Massimo Renon. The Benetton family is planning strategies to address the company's increasing losses, as the fashion retailer has faced challenges in the competitive fast-fashion sector. Sforza, with experience in various leadership roles, will focus on guiding the group, overseeing company reorganization, and revitalizing its business. The formal nomination is expected to take place after a new board is appointed at a shareholders' meeting on June 18. Benetton's 2023 results were also approved, showing revenue of 1.1 billion euros and a net loss of 230 million euros, primarily due to impairments.
Source: YAHOO