(Il Sole 24 Ore Radiocor) - Milano, 20 apr - Shares of the Italian fashion house Salvatore Ferragamo were higher in Milan trading, after its controlling shareholder tapped the long-time manager Fabrizio Freda as a strategic advisor.

At 0935 GMT, Ferragamo shares were up 1.17% at 8.225 euros while the benchmark FTSE MIB index was down 1.32% at 48,226.18 poitns.

Ferragamo Finanziaria, the holding company of the Ferragamo family and the controlling shareholder of the fashion group, said in a statement that Freda would contribute to analyses, strategic decisions and the strengthening of the structure and operations of the Ferragamo group. Freda, who was served as president and CEO of the US cosmetics group Estee Lauder from 2009 to December 2024, may also collaborate in the selection of a future CEO at Salvatore Ferragamo and serve on its board. "The focus of the collaboration is on creating value in the medium to long term and strengthening the path undertaken in alignment with the group's core values," Ferragamo Finanziaria said.

Prior to joining Estee Lauder, Freda also held roles of increasing responsibility at the US consumer goods group Procter & Gamble over a period of 20 years. Among other positions, he is currently on the board of the US asset.

management giant BlackRock.

(RADIOCOR) 20-04-26 11:48:22 (0257) 5 NNNN