Alessandro Benetton to take over family firm

Alessandro Benetton, son of the founder of the eponymous Italian fashion retailer, has taken over as head of the family business, following the resignation of his father.

In a statement issued on 24 April, the Benetton Group said Luciano Benetton has officially resigned and the group's board of directors has nominated his eldest son Alessandro (pictured), previously executive deputy chairman, as his successor.

“After a journey spanning 47 years, I am stepping down from my role in the company I founded with my siblings. Now it is the turn of my son Alessandro to become chairman," 76-year-old Luciano said in the statement.

He added that Alessandro, who graduated from Harvard Business School and worked at Goldman Sachs before joining the family business’s board in 1998, has the right skills to run the group, having previously established a private equity firm.

“Alessandro has shown – not least in his business career when he set up 21 Investimenti – that he is not a quitter. The results testify to this. He is someone who aims for success in everything he does and that is what he will achieve,” he said.

Alessandro also sits in the board of Edizione, the family holding company, and Autogrill, the travel dining company controlled by the Benettons.