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Brunello Cucinelli names new co-CEOs

By Prachi Singh

22 May 2020

At the shareholders’ meeting of Brunello Cucinelli S.p.A, the board appointed Luca Lisandroni and Riccardo Stefanelli as new CEOs, imbuing Lisandroni with powers regarding the area of markets and putting Stefanelli in charge of the area of product and operations. Brunello Cucinelli, in his role as the Executive Chairman and Creative Director of the company will be responsible for style, creativity and communication.

“I envisage that these two young men in their forties, individuals of huge professional value and in love with the great universal concepts of truth, beauty and humanity, will be able to lead the enterprise for a long time as examples of guardianship for future generations,” said Brunello Cucinelli in a statement.

The company also confirmed the appointment of Moreno Ciarapica as Chief Financial Officer and agreed to carry forward the profit for the year, equal to 57.2 million euros through allocation to the profit reserve.

Brunello Cucinelli closed the year to December 31, 2019 with net revenues of 607.8 million euros, an increase of 9.9 percent compared to 553 million euros in 2018, and a normalized net profit of 49.3 million euros, which constitutes an increase of 7.1 percent compared to 46 million euros in 2018.

Picture:Brunello Cucinelli website