New CEO gives Prada more stylish look for listing

Prada SpA

06/12/2022 16:31

(The author is a Reuters Breakingviews columnist.  The opinions
expressed are her own.)
    By Lisa Jucca
       MILAN, Dec 6 (Reuters Breakingviews) - Former Luxottica
executive Andrea Guerra will replace founder Patrizio Bertelli
at the $15 bln fashion house. It’s a breath of fresh air for the
family-controlled firm. Putting an experienced outsider in
charge may increase Prada’s appeal as it eyes a share sale in
Milan.
    Full view will be published shortly.
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    CONTEXT NEWS
    Italian fashion group Prada said on Dec. 6 that it would
name Andrea Guerra as its new chief executive. Guerra, 57, will
be recommended as the new CEO at a board meeting on Jan. 26. 
    He will replace current CEO and founder Patrizio Bertelli,
78, who will become chairman of the luxury company. 
    Bertelli’s wife and co-CEO Miuccia Prada, 73, will remain
the creative director of the Miu Miu and Prada brands, the
latter together with designer Raf Simons. 
    Hong Kong-listed Prada has been exploring the possibility of
a second listing in Milan.
 (Editing by Neil Unmack and Oliver Taslic)
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