Edition, Alessandro Benetton between past and future. The Morandi drama and the new businesses of the group “which will remain in Italy”
Alexander Benettonfreshly appointed as the new president of Edizione, reveals the plans for the future of the group but also returns to the mistakes made in the past, above all that of the affair of collapse of the Morandi Bridge in Genoa, that they had under management. “My job – Benetton tells Il Sole 24 Ore – has been to put traditions back in order and erase bad habits. And with my cousins we did it by putting the values of the founding fathers back at the center. Of course the scar and the pain remain, they are part of our history. Unfortunately – he continues – we carry in our luggage experiences that cannot be erased. But even if mine is well known disagreement about choices sometimes made in the pastmy opinion on my family, made up of mirrored people, does not change. Now we are at work with CEO Enrico Lakes and with qualified managers focusing on young people and teamworkon innovation and sustainability”.
“Edition – continues Alessandro Benetton to il Sole – is one large platform with Italian heart and head even if for 70% are international. There were many innovations and we managed them in record time, becoming bigger, more solid, more diversified. The results of what I defined, as soon as I took office, the biggest challenge of my life they are demonstrating it and will demonstrate it more and more”. All the companies in the group, at the end of the year, it will have a market value of around 13 billion. In less than three years the value of Edizione has increased by over 3 billion euros, at a rate of 1 billion euros per year. And with a internal rate of return of 8.24% net of the Benetton group.
“Transport networks and services will continue to remain centralwith the intention – Benetton reveals – to continue to grow externally through acquisitions, alliances, participation in large operations at an international level”. The president of Edizione also specifies another key aspect. “The role of the shareholders and governance are clear and the conditions for having to assert the contractual rights present in the agreements have never been created. A positive relationship has been consolidated with Blackstone which I consider on par. They recognize our leadership but we make fundamental decisions together“.
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