Benetton, increasingly central role of president Alessandro
New reorganization in Benettonmore powers entrusted to the president Alexander and strategic direction in the hands of the board. These are the main innovations established by the company during the shareholders’ meeting last May 26th. It can be said that now the “Revolution” of the system of Editionthe holding company from 12 billion in shares which is headed by the Benetton family. Thus completing the reorganization process that began in 2021. Above all, one of the most delicate passages of the great dynasties has been fixed, that generationalthrough a pre-established route and valid for all shareholders. There are many new features, starting from the fact that – reports Il Sole 24 Ore – for apply for the board of directors a master’s degree and a period of work of at least five years in companies outside the Benetton dynasty group will be required third generation.
With the new governance – continues Il Sole – the Powers of the Presidentrole currently held by Alexander Benetton. Less say from members who see it this way the power of the assembly was reduced which from now on will focus on Appointment of the Board of Directors and the president, the approval of the financial statements and the resolution on the distribution of dividends. More generally, Edizione, which starting from the next meeting will adopt the monistic system compared to the traditional one, it hires through the board a strategic direction rolewhich also includes the choice to start independently extraordinary transactions on its subsidiaries.
The most significant novelty, however, as mentioned, concerns the rules on the third generation of Benetton, the surname will no longer be enough to join the board and make a career. It will in fact be mandatory to follow a pre-established route. First, you must have successfully completed a post-graduate course of study (master’s or PHD) in an economic, engineering or legal subject or in international relations at a prestigious university institute and well-known quality; furthermore, it will be necessary to have obtained work or professional experience in contexts independent of the family unit and others controlled or affiliated companies from subjects belonging to the same nucleus, for at least 5 years in the investment banking, corporate finance, strategic advisory, private equity sector, or in one of the sectors in which the main participating companies operate Edition.
This transition has identified the current president Alessandro Benetton the figure of synthesis and guide of the dynasty. But it is clear that the physiological growth of the family and the consequent number of Edizione shareholders has imposed some reflections. First of all, the need to move from an increasingly large assembly the final word to a sovereign board on the strategic choices of the group.
#Edizione #Holding #Alessandro #Benetton #patriarch #governance