Fashion
Ferragamo CEO to Step Down After Less Than 2 Years
- No replacement named as company says CEO will leave March 8
- Italian luxury brand continues struggling to increase revenue
Salvatore Ferragamo SpA Chief Executive Officer Eraldo Poletto is leaving after less than two years as the Italian shoe- and tie-maker struggles to latch on to the luxury industry’s rebound.
Poletto will step down on March 8, the company said in a statement late Tuesday in which it did not name a successor. The shares rose as much as 4.6 percent early Wednesday, but they’ve fallen about 13 percent over the past year.