MILAN — Gemina SpA, the Fiat group investment company that acquired GFT SpA last year, said Monday it has appointed Angelo Barozzi managing director of the designer label manufacturer.
Barozzi, 51, was general director of Coin, a family-owned retailing group based in Venice. He join GFT at the end of March, according to a Gemina spokeswoman.
Barozzi, who wasn’t available for comment, has not been a high-profile manager. But he is credited with helping to boost Coin’s success over the past few years. “He is one of the most intelligent managers Coin has had over the past few years,” said one Milan-based consultant. However, some here were puzzled at the choice of Barozzi to run GFT, which has had severe financial difficulties.
“There are two things that are key to GFT’s recovery: restructuring its industrial operations and continuing its expansion in foreign markets. Barozzi isn’t experienced in either of these areas,” an industry observer commented.