DELLA VALLE NEWS: Changes continue to take place at the Tod’s Group. According to market sources, Claudio Castiglioni, global general manager, is expected to exit the company in the spring. Castiglioni previously also served as president of Tod’s USA.
In November, Tod’s revealed that chief executive officer Stefano Sincini was leaving after 33 years with the company, to be succeeded by Umberto Macchi di Cellere, previously managing director of worldwide sales for all product categories for the Bulgari brand. As reported, Bruno Frisoni is exiting the Roger Vivier label, also under the Tod’s SpA umbrella, after 16 years at the creative helm. The house also recently named Violante Avogadro di Vigliano global marketing and communications director, to a new post. Cristina Malgara, Roger Vivier’s longtime global communications director, recently left her position.
In a separate development, the group’s chairman and chief executive officer Diego Della Valle, made news in Italy for yet another of his personal investments — in the high-speed train service NTV-Italo, which became operative in 2012. On Thursday, Italo’s shareholders accepted the offer made by the American fund Global Infrastructure Partners to buy the service, which runs through some of the main Italian cities. Della Valle is the second-largest shareholder with a 17.4 percent stake. Others include his friend and former Ferrari president Luca di Montezemolo.
Gip has offered 1.94 billion euros to buy 100 percent of Italo. However, when all is said and done, the operation will amount to almost 2.5 billion euros because, according to media reports, the company’s shareholders will cash in a dividend of 30 billion euros and, since Italo was planning an initial public offering, Gip has agreed to pay expenses up to 10 million euros to shelve the process, and the fund will also bear the costs of Italo’s debt of 440 million euros.
Della Valle has over the years invested in a diversified portfolio of companies ranging from Saks Inc.; insurance company Generali; motorcycle firm Piaggio and merchant bank Mediobanca, to publishing house RCS, iconic coffee-machine maker Bialetti, and the city of Florence’s soccer team, Fiorentina.