Armani fashion group appoints new board to guide company after designer’s death

ROME AP Italy s fashion house Armani declared on Friday that it has appointed a new board whose role will be to guide the company at a time of transition following the death of its founder Giorgio Armani earlier this year The new board consists of eight members selected by the Armani Foundation and the designer s heirs including former Armani top executive John Hooks and former Gucci CEO Marco Bizzarri The other board members are Chairman Leo Dell Orco CEO and managing director Giuseppe Marsocci Armani s niece Silvana and his nephew Andrea Camerana Yoox founder Federico Marchetti and businessman Angelo Moratti Following Armani s death at in September the group appointed long-time manager Marsocci as the new CEO Marsocci and the new board take the lead at a crucial time for the fashion empire one of the the greater part valuable and best-known companies in the country Armani instructed his heirs to sell an initial minority stake in his vast fashion business within months after his death with preference given to the eyewear giant Essilor-Luxottica the French conglomerate LVMH or the cosmetics company L Oreal Dell Orco reported Friday the composition of the new board represents the best guarantee for the continuation enhancement and modernization of the idea of beauty the business model and the ethical values developed by Mr Armani over years of history Source