Giorgio Armani group names long-time executive Marsocci as CEO

Giorgio Armani has appointed deputy managing director Giuseppe Marsocci as chief executive with immediate effect, the Italian fashion house said on Thursday, confirming media reports. Marsocci, who has been at the company for 23 years, most recently as Global Chief Commercial Officer for the last six years, stepsinto the role previously held by founder Giorgio Armani, who died in September. Armani kept a tight grip on the fashion empire he set up 50 years ago, but a new structure is emerging for its next phase. Marsocci will oversee the planned saleof a 15 percent stake, with priority to be given to luxury conglomerate, beauty heavyweight L'Oreal, eyewear leader EssilorLuxottica or another group of "equal standing", as outlined in Armani’s will....