Eyewear maker Safilo Group announced that Roberto Vedovotto, CEO of the Group, has resigned from all offices held. His resignation will be effective as from July 31st 2006.
The Chairman of Safilo Group has accepted the resignation and expresses his thanks to Vedovotto for the work and commitment of recent years.
Vedovotto, who entered Safilo in 2002, has managed, among other transactions, the Group's turn-around, its listing on the Milan Stock Exchange last December and the re-financing of the company's Senior Loan in June 2006 which has lead to a significant improvement of the guarantee package and margins, through the signing of a new contract for €400 million.
With the re-financing of the debt at considerably improved conditions compared to the Senior Loan granted in 2002, the extraordinary phase which has characterized Safilo Group's activities for the last five years has been concluded.
Vedovotto will leave the company in order to pursue new professional opportunities following the conclusion of a number of tasks which have seen him at the centre of a series of complex financial transactions and a strategic re-structuring which have allowed the company to achieve a solid financial structure and a well established leadership in the luxury eyewear sector.
Vedovotto's resignation will be effective from July 31st in order to ensure that the company's day to day operations are smoothly handed over and to ease the transfer of responsibilities and powers.
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