Armani Appoints Eight-Member Board To Oversee Stake Sale Process

Armani announced the appointment of a new eight-member Board to guide the company through its succession plan following the death of founder Giorgio Armani in September.

The Board includes three family representatives and adds industry executives Marco Bizzarri and John Hooks, along with businessman Angelo Moratti. Pantaleo Dell’Orco continues as Chair, with Silvana Armani and Andrea Camerana holding the other family seats. Federico Marchetti, Founder of Yoox, remains a Director, while former Deputy Managing Director Giuseppe Marsocci joins the Board after becoming CEO last month. Armani’s will instructs heirs to sell a 15% stake within 18 months or consider a market listing, giving priority to LVMH, L’Oréal, EssilorLuxottica, or another group of similar standing. The company said the Giorgio Armani Foundation will keep at least a 30% stake regardless of future ownership changes.