Following the departure of Donatello Galli, its CFO of 12 years, Prada has promoted IRO Alessandra Cozzani to the top financial role.
A University of Genoa graduate, Cozzani started her career as an auditor for Coopers and Lybrand (now PwC). She is well versed in the finance function, having served as CFO for Società Trasporti Castelletti for three years before joining the Italian luxury firm in 2000 as finance director for Italy.
She was promoted to group finance director three years later and named group IR director in 2010. In 2013 she was appointed as executive director to the board.
The promotion comes as Prada, which is listed on the Hong Kong Stock Exchange, has seen its shares rebound slightly after a year of steady decline that brought the stock below its 2011 IPO price, reports Bloomberg. The Milan-headquartered company posted flat sales figures for two consecutive years, due mainly to the challenging macroeconomic situation in China, one of its key markets, as well as the strong dollar and security concerns creating headwinds for foreign tourists shopping in the US and France.
Prada has yet to announce a replacement for Cozzani.
