Why did Salvatore Ferragamo fly on the stock exchange?
Salvatore Ferragamo (MIL: SFER) flies on the stock exchange with + 10% to 12.32 euros, after the board of directors has defined a new governance structure for the company. One of the reasons is the return of Michele Norsa. The new structure envisages Michele Norsa as executive vice president and Ferruccio Ferragamo instead maintains the presidency. Confirmed all the powers of the CEO Micaela le Divelec Lemmi. Giacomo Ferragamo resigned from the board office during the board leaving a place on the board, co-opted in place of Michele Norsa as new director, conferring on him the executive powers previously exercised by President Ferruccio Ferragamo. Michele Norsa took up his new role from 28 May and will work in coordination with the CEO until the next meeting to implement the company’s programs and development plans.
Michele Norsa in 2011 was the creator of Salvatore Ferragamo’s listing on the stock exchange and was CEO of the brand from 2006 to 2016. The company closed the first quarter with a loss of 41 million euros and a turnover of 222 million. The net financial position went from 179 to 123 million euros.