Valentino Fashion Groups New Board

Following up on the previous blog entry, Going out With Class; Under private equity firm, Permira,-which now owns Valentino Fashion Group, the VFG has established a new board in regard to the designers’ retirement. Former chairman Antonio Farvin resigned from his post renewing Stefano Sassi’s mandate as chief executive officer. This resignation was long expected. Also as speculated, Alessandra Facchinetti now serves as creative director in response to Valentino Garavani and his business partner’s, Giancarlo Giammetti, resignation. The new ten member VFG board consists of four Permira representatives. Permira holds more than ninety-seven percent of the fashion company, and is expected to un-list VFG form the Milan stock exchange.