Alessandro Benetton

MILAN — Alessandro Benetton is to exit the board of the family-owned company.

“This is part of the normal changes within the board,” said a company spokeswoman.

RELATED STORY: Alessandro Benetton Steps Aside >>

Sources say the young entrepreneur was not in sync with the rest of the family on the strategies to relaunch the Benetton brand.

The executive, who heads private equity fund 21 Partners, which he founded in 1992 and was then called 21 Investimenti, took on the leading position at Benetton in April 2012, succeeding his father Luciano Benetton, who had overseen the company for 47 years. He served as chairman of the Benetton Group from April 2012 to May 2014.

RELATED STORY: Benetton Parent Appoints New CEO >>

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