Prada to rent former Luxottica CEO Guerra to ease succession

© Reuters. FILE PHOTO: Italian luxurious vogue home Prada’s brand is seen at a retailer in Zurich, Switzerland October 26, 2016. REUTERS/Arnd Wiegmann/File Picture

MILAN (Reuters) – Italian luxurious items group Prada (OTC:) is ready to rent former Luxottica Chief Govt Andrea Guerra in a senior administration function to ease a transition on the helm to the following era of the founding household, a supply with information of the matter mentioned.

Present Prada CEO Patrizio Bertelli, 76, has mentioned he’ll hand over the reins of the group he leads with spouse and designer Miuccia Prada to their 34-year-old son Lorenzo.

To clean the passage the group has been wanting to usher in an exterior supervisor, a second individual near the matter mentioned.

Prada is near finalising the accord with Guerra to rent the 57-year-old supervisor, who earlier this yr stepped down as head of the inns division at luxurious items large LVMH, the primary supply mentioned.

Each Prada and Guerra declined to touch upon the information.

Italian each day la Repubblica first reported the information that Prada might announce Guerra’s arrival as early as in January.

“We imagine Guerra would add invaluable expertise and important gravitas to the Prada senior administration crew,” dealer Jefferies mentioned in a observe, including the market would welcome the information given the group was initiating a section of succession.

Bertelli had mentioned a yr in the past Lorenzo, who’s the group’s advertising and marketing chief, would succeed him in three years’ time.