MILAN — Marking yet another change within Italy’s men’s wear industry, Corneliani SpA chief executive officer Paolo Roviera has exited the storied company and has been succeeded by Luigi Ferrando.
In a brief statement, the Mantua-based firm said it “confirms the development goals of the Corneliani brand, in line with the strategies outlined in 2016.” The date refers to the acquisition by Bahrain-based Investcorp of a majority stake in Corneliani in June that year and signaling the fund’s increasing focus on luxury. The deal was meant at the time to be preparatory to an initial public offering, which has not taken place, and also overcome succession plans.
Ferrando joins Corneliani, known for its sleek tailoring and high-end quality products, from a different sector, as he leverages experience in furniture. His curriculum lists managerial positions at Unopiù and Arquati as well as lighting firms Targetti and Louis Poulsen.
Carlalberto Corneliani, who founded the company in 1958 with his late brother Claudio, was succeeded by Investcorp’s Hazem Ben-Gacem as chairman of Corneliani.
Investcorp, a leading provider and manager of alternative investment products, controls the Danish jewelry brand Georg Jensen and is a former owner of Gucci, Tiffany and Saks Fifth Avenue. It has typically exited its investments through public listings.
In July, changes also hit Pal Zileri, who ushered in a new ceo, Marco Sanavia, to succeed Giovanni Mannucci, who had agreed to end his collaboration with the brand’s parent company Forall Confezioni SpA.
Since January, Sanavia has held the role of director of human resources at Mayhoola, which controls Forall. Before that, he was director of human resources and organization at Forall and Pal Zileri from July 2014.
Mannucci joined Pal Zileri in October 2016 from Boglioli, which has seen its own share of changes after the arrival of a new owner, PHI Industrial Acquisitions, last year and of a new president, Francesco Russo.
In July, Brioni revealed it was once again parting ways with its creative director — this time Nina-Maria Nitsche — after only one year. The brand, controlled by Kering, is led by ceo Fabrizio Malverdi, who joined the company last year, succeeding Gianluca Flore after his controversial choice to tap Justin O’Shea. O’Shea abruptly departed the company in October 2016 after only six months.