Prada, the well-known Italian fashion group, has announced its appointment of Andrea Guerra as the new CEO. Guerra previously served as the CEO of Luxottica, and this decision was made to ensure a smooth transition in leadership to the next generation of the founding family of Prada.
The current CEO of Prada, Patrizio Bertelli, who is 76 years old, will assume the role of chairman during the annual shareholder meeting in the spring. Paolo Zannoni, the chairman of Prada Holding, will be recommended to become the executive deputy chairman of the group and chairman of the parent company.
Miuccia Prada, the co-CEO and creative director of Prada, will continue to hold her positions at Miu Miu and Prada brands. She will work alongside Belgian designer Raf Simons and remain a member of the company’s board.
Last week, Reuters reported Prada’s intention to hire Guerra in a senior management position to facilitate a smooth succession plan for the group. Prada, which was established in Milan in 1913 as a leather goods store by Miuccia Prada’s grandfather and great-uncle, has seen success under Bertelli’s leadership in overcoming declining sales.
Bertelli had previously expressed his plans to hand over leadership to his 34-year-old son, Lorenzo. In a joint statement, Bertelli and Prada emphasized that the appointment of Guerra is a crucial step to contribute to the evolution of the Prada Group and ease the succession process for Lorenzo Bertelli.
The recommendation for Guerra as the new CEO will be made by Prada Holding, which owns 80% of the Prada group, during a board meeting on January 26. Guerra, 57, previously served as the head of the hotels division at luxury goods giant LVMH. As the CEO of Luxottica from 2004 to 2014, Guerra played a significant role in driving sales for the eyewear manufacturer, which has been producing and distributing eyeglasses under the Prada and Miu Miu brands since 2003.
Useful links:
– Reuters: Prada poised to appoint former Luxottica boss as CEO
– Prada official website
