Luciano Benetton’s farewell to the Board of Directors, the new CEO is expected – News

Luciano Benetton’s farewell to the Board of Directors, the new CEO is expected – News
Luciano Benetton’s farewell to the Board of Directors, the new CEO is expected – News

First the board of directors, then the assembly on June 18th. Today’s Benetton board of directors meeting at the Villa Minelli headquarters will mark yet another attempt to put the Ponzano group back on track as it prepares for the exit of CEO Massimo Renon, in view of the arrival of a new CEO, and for the farewell to the presidency of Luciano who founded it 60 years ago, in 1965, with his sister Giuliana and brothers Gilberto and Carlo.

A ‘noisy’ step backwards, announced in an interview with Corsera over the weekend in which the 89-year-old president defined himself as ‘betrayed’ by the CEO and his managers, guilty of having hidden a major loss from him. In the end, it is 230 million euros (compared to over 1 billion in revenues) that the council will have to examine when approving the 2023 accounts which will then be given the green light by the assembly scheduled for June 18th. A shocking year for the textile group which was looking to break even and on which Edizione, the safe led by Alessandro Benetton, is ready to intervene, over a period of 4 years with 260 million euros.

An injection to support the group’s reorganization and relaunch plan (whose weight in the holding’s business is only 2%) which will be carried out by new management with an industrial strategy already in development. The intervention will take place both through a capital increase and through intragroup financing. Everything will be on the table of the holding’s board of directors – who will essentially put up the money – in an upcoming meeting which will also serve to define the list of the next board of directors of the clothing group without any more direct representatives of the family, as already happens in other subsidiaries. Obviously, Renon will no longer be on the new board, having arrived in 2020 from Marcolin, who announced “a structured response” through legal channels in the face of the serious accusations made by Luciano Benetton. The new CEO, whose name is strictly confidential, has already been chosen.

A high-level manager with industrial and financial skills, not in fashion, and a background in large groups. Meanwhile 21 Invest, the European investment group founded by Alessandro Benetton, has scored another coup by selling the French ProductLife Group (PLG) and reinvesting in it, creating a global group in the Healthcare sector. A 500 million operation which sees the joint control of 21 Invest with Oakley Capital together with other important investors including the management team, led by CEO Xavier Duburcq. It is an operation that “demonstrates our commitment to growing the companies in which we invest, finding innovative and wide-ranging solutions to continue to support their growth path”, underlines Alessandro. Plg is a French company that offers solutions for pharmaceutical companies, from the pre-marketing phase of a drug or medical device, until the end of its life cycle. Founded in 1993, it is present in 150 countries, serving over 1,000 customers (pharmaceutical, biotech and medtech companies). Having entered the 21 Invest portfolio in 2019, in the space of five years Plg went from a turnover of 25 million to 167 million in 2023, as well as from 240 to 1,500 employees.

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