Benetton has a New Chairman

Luciano Benetton will hand over the helm of the Italian fashion clothing company he helped found 47 years ago to his son this week, he said in an interview published on Sunday.

Benetton and his family turned the company into one of Italy's best known brands with more than 6,500 stores in 120 countries and a reputation for controversial advertising and bold colors.
After 25 years on the Milan Stock Exchange, Benetton recently took the controversial decision to go private.

At the end of March, Benetton’s controlling shareholder, Edizione holding, said it had 92.4pc of the retailer after buying out minority shareholders.

In the interview, Benetton said his 48-year-old son "Alessandro Benetton" had shown in the two years as deputy chairman he had the passion needed to run the group, now more than 90 percent controlled by the family.“We have been a little distracted with the privatisation but the heart of the company remains the Benetton Group,” he added.

info at yahoo news