Ferragni: Calabi to be sole director Fenice, Monday meeting

Claudio Calabi, a manager with extensive experience in corporate restructuring and re-launching and with a past in Italtel-Psc and Rcs, will be appointed sole director of Fenice, a key company of the Ferragni group.

This was reported by the Corriere della Sera, according to which the aim is 'to get the company that owns the Chiara Ferragni brands back on track, to find an agreement with third-party partners and to give the business a perspective after the overwhelming wave of the Balocco case'.

According to sources heard, a meeting of Fenice is called for Monday to change the administrative body. Chiara Ferragni, managing director, and president Paolo Barletta, the only two directors, should leave management, while Calabi should be given full powers, once the meeting has been made official.

Calabi can count on the favourable vote of Ferragni, a shareholder with 32.5% of Fenice, and Barletta (40%). According to the newspaper, 'Calabi's mission will be to take an X-ray of the company, its profit and loss account and cost structure, which are probably excessive compared to the current downsized business. In the end he will present a new plan designed to mark discontinuity. One knot he will have to tackle immediately will be the 2023 budget, which has created a rift between the shareholders'.