Prada Chief Financial Officer Donatello Galli Resignation

This week, PradaSpA Prada (1913.HK), which experienced sales slump in the Asia Pacific region last year and its overall revenue growth for second consecutive years, was hit again: DonatelloGalli, chief financial officer who served more than 10 years, announced her resignation.

PradaSpA Prada announced tonight that DonatelloGalli resigned as the group's chief financial officer and executive director for personal reasons in pursuit of new career opportunities. The group said DonatelloGalli confirmed that there was no disagreement between the tenure and the board of directors.

AlessandraCozzani, executive director of PradaSpA Prada, has been promoted to the new CFO. AlessandraCozzani joined PradaSpA in 2000. Prada The finance department has served as director of financial affairs and investor relations, and was nominated as executive director in December 2013. The group said AlessandraCozzani's new position is a natural extension of its role and is conducive to the long-term growth of the group. The group will recruit a new investor relations director.

Before the loss of DonatelloGalli, the executives of Prada PradaSpA and half of them who left the market were almost completely annihilated. According to PradaSpA Prada's former staff, this is related to the confident management style of PatrizioBertelli, a joint CEO of the group, which has suffocated some ambitious executives, and it is hard to say that it is "arbitrary". Perhaps it was poor performance and recognition of its limitations. In early 2014, MiucciaPradaBianchi retired from the position of chairman of the board and co operated with her husband PatrizioBertelli as CEO of the group, holding the overall position instead of letting PatrizioBertelli take the lead in CEO.

PradaSpA Prada Chief Executive Officer PatrizioBertelli It is unpredictable that the global economy, politics and exchange rate volatility are unpredictable. This is like the statement by HermesInternationalSCA (HRMS.PA) of Hermes last week. The French group said its growth in fiscal year 2016 will further slow down.

Listed in Hongkong Prada On Friday, it fell 2.62% to HK $24.2. The stock has fallen 44% in the past 12 months.

PradaSpA PRA recorded a 3 billion 545 million euro income in the 2015 fiscal year ended January 31, 2016, down 0.2% from 3 billion 552 million euros a year earlier.

The continued weakness of the group in the past two years has been mainly attributed to the poor performance of the Asia Pacific market dominated by the Greater China market. In the 2015 fiscal year, Asia Pacific market (excluding Japan) plunged 16% in revenue, exacerbated by a decline of 7% compared with the 2014 fiscal year, even if it benefited from the weak euro, there was a 4% decline. However, PradaSpA Prada, like the last quarter's earnings report, revealed that the mainland market had improved at the end of the year.