Salvatore Ferragamo

MILAN — Salvatore Ferragamo SpA appointed Alessandro Corsi as its new chief financial officer, effective Jan. 11. The board meeting held on Thursday and helmed by president Ferruccio Ferragamo also designated Corsi strategic manager of the Florence-based company.

Corsi, after an initial experience in the financial area of General Electric, joined Ferragamo’s planning and control department in 2003.

In 2006, he was appointed director of group business development and e-commerce. After that, he took part in Ferragamo’s initial public offering project covering the role of investor relations director since the listing of the company on the Milan Stock Exchange in 2011 and until 2013, when he was appointed director of the EMEA region ( Europe, Middle East and Africa), a position he held until 2018 when he was appointed chief strategy officer.

Corsi succeeds cfo Ugo Giorcelli, who, as reported, will exit the company on Jan. 11. Giorcelli had been hired in March 2016 by the company’s previous chief executive officer Eraldo Poletto, now ceo of Stuart Weitzman.

The company is now helmed by Micaela Le Divelec Lemmi.

The announcement of Corsi’s appointment was made at the end of trading in Milan, where Ferragamo’s shares closed down 1.97 percent at 17.88 euros. A day earlier, shares fell more than 6 percent following a “reduce” rating from “hold” by Kepler Cheuvreux, based on the period of transition Ferragamo is going through, and following the exit of Giorcelli.