Prada embarks on succession path to handover reigns to eldest son

Prada has begun the process of succession planning, looking to the former Luxottica chief Andrea Guerra to streamline the luxury house’s change of leadership.

Prada CEO Patrizio Bertelli (76) and Miuccia Prada (73) are expected to hand the company operations to their eldest son, Lorenzo Bertilli (34), who joined the company 2007 as digital communications director. Mr Guerra will guide the company's management through the potential handover and could start as soon as January, after approval from Prada’s board of directors, reported Italy’s La Repubblica newspaper.

Lorenzo Bertelli, a former racing driver who currently holds the role of head of corporate social responsibility of the Group, last year commented on his succession possibilities: “The discussion is in the family. I can't say if it will happen in 3, 4 or 5 years. The important thing, for a group like ours, is to face a succession phase in the most correct way.”

Miuccia Prada has similarly been planning the succession of the brand’s creative strategy, having hired Belgian designer Raf Simons as co-creative director. Mr Simons earlier this month announced he will shutter his own label in 2023.

Article source: La Repubblica, Pambianco News