Vale lembrar que Giorgio Armani, atualmente com 75 anos, não tem filhos. Além dele, três sobrinhos estão envolvidos com os negócios da empresa, seja em posições executivas ou no conselho de administração.
Armani Names Group of Lieutenants But Succession Questions Linger
By CHRISTINA PASSARIELLO
Giorgio Armani, after recovering from a months-long bout of hepatitis, slightly loosened his grip on his fashion empire Wednesday, naming one of his most-loyal executives as deputy chairman, as part of a management reorganization.
The reorganization -- which includes expanding the board of directors and delegating more power to non-family members -- comes as the self-described "dictatorial" designer grapples with the future of his business.
The 75-year-old Mr. Armani, who owns 100% of Giorgio Armani SpA, is a rarity in that he runs the creative and business sides of his Italian fashion house. He recently attributed his illness to the physical and mental toll of working long hours for decades.
The question of whether a fashion house can outlive its designer is perhaps more urgent at Giorgio Armani than at any other family-owned fashion business. The white-haired designer is inextricably linked to the brand's image, taking the runway bow, personally dressing celebrities such as Cate Blanchett, and attending the Academy Awards. In his homeland, he is known as "King Giorgio."
Mr. Armani shot to fame in the 1980s for his tailored jackets, stripped of their bulky lining. His styles are acclaimed for their classic look.
On Wednesday, the company said John Hooks will become deputy chairman, a new position, in January. Mr. Hooks will take charge of brand development and commercial strategy. He will retain responsibility for Armani's foreign development.
In recent years, Mr. Hooks has pushed Armani into China, India and other growth markets, where larger luxury-goods groups such as LVMH Moet Hennessy Louis Vuitton had previously staked out their territory. Armani also said that Giovanni Gerbotto, who already sits on the board, will be in charge of the company's finances and investments. He will be succeeded as general manager by division head Livio Proli.
With the addition of Mr. Hooks, Armani's board will expand to seven, of which three won't be family members.
The management shake-up still leaves a question mark over the company's long-term future. Mr. Armani hasn't publicly designated a successor -- on either the creative or the management side -- though he has flanked himself with two nieces and a nephew.
His nephew, Andrea Camerara, recently took on a more visible role as non-executive director in the president's office. One niece, Silvana Armani, designs some of the collections, and Roberta Armani handles public relations.
For years Mr. Armani's empire has been closely watched by bankers and financial advisers in Milan for the slightest sign that the designer is grooming a possible successor. Wednesday's announcement shows that, even as he delegates more authority to lieutenants, Mr. Armani isn't ready to give up his powers as CEO, said Fillipo Lardera, a Milan-based managing director at mergers-and-acquisitions consulting firm Compass Rondelli Advisors.
Mr. Armani also recently dismissed the idea of ceding any financial control over his fashion house. "No sale, no acquisitions," Mr. Armani exclaimed last week, according to local reports, as he rushed backstage after his fashion show in Milan. In recent years, Mr. Armani has toyed with the idea of listing his company on the stock exchange or selling it, before changing his mind again.
Most of Italy's family-owned fashion businesses have turned operational responsibilities over to professional managers. Roberto Cavalli in September brought in a former LVMH manager as chief executive, after the designer didn't go through with a plan to sell a stake to private-equity investors. Salvatore Ferragamo hired a seasoned fashion executive, a move meant to precede a stock-market listing, which was put on hold last year.
As for Mr. Armani, "I would expect him to give away more authority before eyeing a full-fledged CEO," Mr. Lardera said. "The guy is very hands-on, a perfectionist."
—Stacy Meichtry contributed to this articleWrite to Christina Passariello at christina.passariello@wsj.com
Printed in The Wall Street Journal, page B1
zação dos problemas humanos que a fortuna pode causar à família empresária. Isso pode significar a diferença entre um herdeiro amaldiçoado e um abençoado.
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