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Salvatore Ferragamo CFO to quit next year

Published
Dec 12, 2018
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Italy’s Salvatore Ferragamo said on Tuesday Chief Financial Officer Ugo Giorcelli would leave the fashion group on January 11.


Ugo Giorcelli - corporate.amplifon.com


In a press statement on Tuesday, the company said that Giorcelli is leaving "to pursue a new professional opportunity," without providing further details.

The luxury brand also failed to name his successor.

Joining Salvatore Ferragamo in March 2017, Giorcelli at the time was hired during a management reshuffle inside the Florentine company. Prior to Ferragamo, Giorcelli worked for hearing aid manufacturer Amplifon, where he held the post of CFO since 2007.

Ferragamo, who issued a profit warning last year, said in November that nine-month sales were down 3.3 percent. At the same time, it announced its outlook for the year remained cautious.

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