Home / Knowledge / News / Fashion / MBFG project to restructure the debt

MBFG project to restructure the debt

15
Jul '09
The Board of Directors of Mariella Burani Fashion Group S.p.A. met yesterday, July 14, 2009 and agreed to the following.

As part of the project to restructure the debt of Mariella Burani Fashion Group S.p.A. and its subsidiaries, and as a means of reinforcing the independence of the Board of Directors, Gabriele Fontanesi and Ettore Burani have been nominated as Directors to the Board.

Gabriele Fontanesi will assume the role of Chief Executive Officer, with related responsibilities and authority, as of September 2009. Mr. Fontanesi brings management capabilities from multinational groups with which he has collaborated as CFO and as Director to the Board.

Also as part of this project, Giovanni Burani and Andrea Burani have resigned from their positions as Directors of the Board of Mariella Burani Fashion Group S.p.A. Giovanni Burani will assume the role of President and CEO of the parent company, Burani Designer Holding N.V., and Andrea Burani will concentrate on operational management of the Group.

GABRIELE FONTANESI
Completed his economics studies with a Master obtained at the University of Wisconsin (USA), after which he returned to Italy to collaborate as Manager and as a Board member of various multinational Groups in the Food and Luxury sectors.

Since the mid 1990's, Mr. Fontanesi collaborated with STARWOOD HOTELS & RESORTS CO., White Plains (USA). Starwood Hotels is one of the principal international Groups in the luxury hotels and resorts sector with brands such as S. Regis, Westin, Luxury Collection, W, and Sheraton.

As CFO and Board member of the Group's companies in Italy, Mr. Fontanesi participated in the acquisition of Gruppo CIGA ( Società Italiana Grandi Alberghi ) by ITT SHERATON and its subsequent restructuring, including its delisting from the Italian stock Exchange.

Prior to that, from 1987 to the mid 1990's, Mr. Fontanesi worked with QUAKER OATS CO., Chicago (USA) as CFO and member of the Board of its Italian subsidiary, Quaker Chiari e Forti. In this role, he participated in the launch of GATORADE and in the divestiture of the OLII and PETFOODS businesses.

From the early 1980's, Mr. Fontanesi acted as CFO and Board member of GRUPPO AUGUST OETKER , Germany, successfully implementing a restructuring and rationalization plan of the Group's Italian food and beverage operations. In 1985, he was nominated General Director of the Company.

Mr. Fontanesi began his professional experience with DEL MONTE FOODS CO., San Francisco (USA), assisting the Company to establish an Italian presence.

Mariella Burani Fashion Group


Must ReadView All

Pic: Shutterstock

Fashion | On 23rd Aug 2019

32 companies sign fashion pact to present at G7 Summit

Thirty two top global fashion brands and retailers today announced...

Pic: Kohl's Corp

Retail | On 23rd Aug 2019

Kohl's revenue down 3.1% to $4,430 mn in Q2 2019

Kohl's Corporation, a leading omnichannel retailer, has reported net...

Pic: GTS

Apparel/Garments | On 23rd Aug 2019

Himax makes 3D vision-assisted cementing solution for shoe

Himax, a fabless semiconductor solution provider, and GTS have...

Interviews View All

Jurgen Gauger, Spreadshirt

Jurgen Gauger
Spreadshirt

‘Buying crowdsourced or creative designs are much more appealing to the...

Top executives, Textile industry

Top executives
Textile industry

The foremost issue is bridging the skill gap

Top executives, Textile industry

Top executives
Textile industry

Textile institutes need to change their curriculum

Abhishek Dhanuka,

Abhishek Dhanuka

Vyom International Pvt Ltd, established in 2002, is one of Surat's leading ...

Deepprakash Agrawal,

Deepprakash Agrawal

Radhey Weaves is a Surat-based manufacturer of brocade fabrics. MD...

Suresh P Bagrecha,

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

Melissa Tate, University of New South Wales

Melissa Tate
University of New South Wales

<div><div><div><div><b>Melissa Tate</b>, a well-known scientist currently...

Mark Brill, Birmingham City University (BCU)

Mark Brill
Birmingham City University (BCU)

<div>A technological breakthrough could see people getting messages about...

Andreas Lukas, Andritz Nonwoven

Andreas Lukas
Andritz Nonwoven

With forces in engineering and process development, Andritz Nonwoven...

Igor Chapurin, Chapurin

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Adriano Goldschmied, AG Jeans

Adriano Goldschmied
AG Jeans

The hype around 'designer jeans' was created by him. And the new wave of...

Joe Ikareth, Joe Ikareth

Joe Ikareth
Joe Ikareth

<b>Joe Ikareth</b> has a rock-solid fashion and textiles background, which ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


August 2019

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search