The label has confirmed Micaela Le Divelec Lemmi and Michele Norsa in their roles as CEO and executive vice-president, while Ferruccio Ferragamo has relinquished the non-executive president role to his brother Leonardo.
The family owners of Salvatore Ferragamo have held informal discussions with financial investors to sell a minority stake within their holding firm, as they seek a turnaround and to cope with the fallout of Covid-19.
As the Ferragamo family steps down from its executive roles, the Florentine label has appointed Michele Norsa, who led the company from 2006 to 2016, as executive deputy chairman, alongside CEO Micaela le Divelec Lemmi.
The luxury label fears a sales slump in China following the many store closures, and is funding the restoration of some of Florence’s iconic Renaissance sculptures, including a bronze replica of Michelangelo’s ‘David’.
Ferragamo’s head of marketing and communications, Antonio Burrello, is leaving the group, two sources with knowledge of the matter said, signalling further management changes at the Florentine shoemaker.
Luxury group Salvatore Ferragamo said on Monday it expected 2018 results to be undermined by currency swings and an unfavourable mix of its sales channels, after posting first quarter results in line with expectations.