Why did Salvatore Ferragamo fly on the stock exchange?


Why did Salvatore Ferragamo fly on the stock exchange? Piazza Affari runs today, with the main blue chip index returning above 18 thousand points, always in the wake of the announcement by the European Commission of the € 750 billion plan for Europe’s economic recovery after the health emergency caused by the coronavirus. Of these, 500 billion will be grants while 250 billion euros will be loans. 82 billion in grants and 91 billion in loans should go to Italy. Strong increases for banks, which provide support for the entire list. Among the most popular BPER stocks, up 4%. Mediobanca also posted a good performance, recording a + 2.3%, Unicredit and Intesa. On the upside, Salvatore Ferragamo stands out.

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.

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