**Armani Appoints New Board to Guide Future After Founder’s Passing, Strategic Sale Expected**

MILAN – The Armani group has announced the appointment of a new board of directors following the passing of its iconic founder, Giorgio Armani. This strategic move aims to steer the luxury fashion house through its next phase, focusing on continuity, development, and the modernization of the brand’s vision and business model.

The newly formed board comprises eight members, selected by the Armani Foundation and the designer’s heirs. Leo Dell’Orco will serve as chairman. The board includes a blend of seasoned industry professionals and family members, ensuring both institutional expertise and a commitment to the brand’s legacy. Notable figures appointed are John Hooks, a former Armani executive, and Marco Bizzarri, the former CEO of Gucci, both bringing extensive experience from the luxury fashion sector. Giuseppe Marsocci, who was named CEO after Giorgio Armani’s death, also holds a position on the board alongside other relevant business leaders and family members.

The primary objective of this new leadership structure is to safeguard and evolve Giorgio Armani’s distinctive vision, business model, and ethical values that characterized the brand for over 50 years. The board’s mandate is to ensure the brand’s enduring relevance and growth in the dynamic global luxury market while preserving its core identity.

In line with instructions left by Giorgio Armani, the company anticipates an initial sale of a 15% stake within the next 18 months. Preferred potential buyers for this minority share include major industry players such as Essilor-Luxottica, LVMH, or L’Oreal. This potential divestment signals a strategic move to align the brand with powerful global conglomerates, further securing its future and expanding its reach.