Prada Group makes changes to board of directors
Prada has made two new appointments to its board of directors. The Italian fashion group has named Paolo Zannoni, who was previously board chairman, as executive vice-chairman, and has introduced the position of lead independent director, to which it appointed Yoël Zaoui, as the group indicated in a press release.
Zannoni, 74, remains an executive director, and will continue as member of the group’s compensation committee. He was chairman of Prada’s board of directors from April 2021 to April 2023. Zannoni spent the greatest part of his career at Goldman Sachs. Prior to joining the US investment bank in 1994, he was vice-president of Fiat and taught at Yale University.
Zaoui, 62, maintains his role as independent non-executive director of the Prada group, which he has held since May 2021, as well as that of chairman of the oversight and risk committee, while remaining a member of the group’s compensation committee. Zaoui is the co-founder of merger and acquisition consulting firm Zaoui & Co. He too has worked for Goldman Sachs, where he began his career in 1988. Previously he has also worked at Arthur Andersen in Paris.
Earlier in the year, Andrea Guerra took the helm of the Prada group, joining the board of directors as CEO and executive director. Meanwhile, the roles within the board of Patrizio Bertelli and Miuccia Prada Bianchi, who were previously in charge of the group, have been redefined. The former has become board chairman and executive director, while his wife, who designs the group’s young line Miu Miu and, alongside Raf Simons, is in charge of style for the Prada label, was named executive director.
The Prada group’s new board of directors is composed of 11 members. In addition to Guerra, Bertelli, Miuccia Prada and Zannoni, it includes Lorenzo Bertelli, eldest son of Bertelli and Miuccia Prada, expected to succeed Guerra in a few years, and Andrea Bonini, the group’s CFO. The board’s independent non-executive directors are Zaoui, Marina Sylvia Caprotti, executive president of Italian supermarket giant Esselunga, financial consultant Maurizio Cereda, and two new members who were co-opted in January: HR specialist Pamela Culpepper and Anna Maria Rugarli, who has been working in the CSR field for the past 20 years.
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