Armani, a new era at the top: board renewal set after founder’s passing

The Milanese group is preparing to redefine its governance. The choice of the future 15% shareholder is awaited, while the family aims for continuity.

Giorgio Armani SpA is ready to open a new chapter in its history. A few months after the passing of its founder, the fashion group is finalizing the composition of a new board of directors, which could be announced as early as Friday, according to sources close to the matter. Confidentiality remains paramount, and the company has, for now, made no official comment.

After Giorgio Armani’s death in September at the age of 91, the heirs, led by partner and president Leo Dell’Orco, have chosen a path of continuity. A strong signal came with the appointment last month of Giuseppe Marsocci — who has been with the company for 23 years — as CEO. Dell’Orco, Marsocci, and Silvana Armani, vice president and head of women’s design, currently sit on the board.

Alongside the long-standing family members, the board includes key figures such as Yoox founder Federico Marchetti, Rosanna Armani (the designer’s sister), nephew Andrea Nicola Camerana, and niece Roberta Armani, as reported in recent filings with the Milan Chamber of Commerce. This team could now be reshaped to guide the group through its new phase.

On the financial front, attention is growing regarding the decision on bringing in a minority shareholder: the founder’s will provides for the initial sale of 15% of the company to one of three strategic partners. Leading the race is L’Oréal, which holds the license for perfumes and cosmetics until 2050, followed by EssilorLuxottica — a historic eyewear partner — and luxury giant LVMH.

A crucial step that could define the brand’s future structure, while the Armani family works to consolidate the creative and entrepreneurial legacy of its founder.

Andrea Pelucchi