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Bulgari Group's CFO Ernesto Greco resigns

24
Jan '06
Italian jewellary and accessories maker Bulgari Group has announced that Ernesto Greco, Chief Financial Officer of the Group for over sixteen years, will leave his position to embark on new professional opportunities.

The resignation will be effective June 30th 2006, in order to ensure the necessary operational continuity and a smooth transition between the appointment of his successor, an objective on which the company is already concentrating.

Francesco Trapani, CEO of the Group, said, “I am sorry that the desire to explore new professional opportunities has led Ernesto to leave the company. During these long years of activities that have driven Bulgari to become one of the most prestigious players in the luxury market through an intense and complex growth process, Ernesto has always played a very important role.”

“I would like to thank him for his great professionalism and unceasing commitment that have always contributed to the development of the Group and I wish him all the success and satisfaction he deserves in his new career,” Trapani added.

The Rome-based Bulgari is one of the global players on the luxury market.

In 2004, the group posted a turnover of €832 million, a net profit of €109 million. With a market capitalization of about €2.716 million, Bulgari relies on a distribution network of 194 stores in the most exclusive shopping areas in the world and on selected distributors.

Bulgari has a product portfolio that ranges from jewels and watches to accessories and perfumes. It is controlled by the Bulgari family, holding about 52 percent of the share capital. The remaining 48 percent is floating on the Milan Stock Exchange.

Bulgari Group


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