Benetton reports Q1 2005 results: To invest over 200mn EUR for new opening & restyling
17 May '05
5 min read
The extraordinary meeting then approved a change to the articles of association which allows the appointment of a second Deputy Chairman of the Company's Board of Directors.
The Benetton Group Board of Directors, meeting after the company shareholders' meeting, approved the appointment of Alessandro Benetton as Deputy Chairman. The Board also resolved to entrust Deputy Chairman Alessandro Benetton with the task of overseeing Group expansion and development in Eastern and Far Eastern markets, with special reference to China and India.
Alessandro Benetton, 41 years old, founded 21 Investimenti S.p.A. in 1993 and is currently Chairman of that company. He is a member of the Executive Committee and Board of the Benetton Group, as well as, amongst other appointments, a member of the Boards of Edizione Holding, Autogrill and other companies in which the 21 Investimenti group has a holding. He is on the Advisory Committee of Robert Bosch Internationale Beteiligungen and is on the council of Confindustria (Confederation of Italian Industry). He started his career in the Global Finance department of Goldman Sachs and was Chairman of Benetton Formula from 1988 to 1998. He has a degree in Business Administration from the University of Boston and obtained a Master's degree in Business Administration at Harvard.
2004 closes with the distribution of dividends totaling 50% of net income (which was higher than forecasted), demonstrating the policy of the niversity of Boston and obtained a Master's degree in Business Administration at Harvard.
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