Company insider Marco Giacometti has been tapped as chief executive officer of Tod's USA.
Giacometti was previously general manager of Tod's northern region including France, the U.K., Belgium, the Netherlands and Luxembourg. The promotion is effective immediately.
Giacometti will oversee the corporate activity for Tod's, Hogan and Roger Vivier. He has worked at the company nine years.
Peter Tannenbaum will retain his title of chief operating officer of Tod's USA.
"I am very happy for this opportunity that was given to Marco Giacometti," former Tod's USA ceo Claudio Castiglioni, who is now president of Tod's USA and chief commercial officer of Tod's SpA, said in a statement. "Because of his background, being responsible for France, United Kingdom and Benelux, he has achieved great experience in both retail and wholesale."
Castiglioni was named chief commercial officer of Tod's SpA in January 2007. Like Castiglioni, Giacometti reports to the Milan-based Stefano Sincini, Tod's SpA chief executive officer.
In November, the company reported a profit increase of 8.9 percent to 57.3 million euros, or $76.8 million, for the nine months ended Sept. 30. Sales for the period advanced 14.1 percent to 499.9 million euros, or $670 million. Revenues would have grown 16 percent at constant exchange rates. Revenues in the U.S. advanced 10.3 percent to 47.4 million euros, or $63.5 million, and would have gained as much as 19 percent at constant exchange rates.
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