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From Home Furnishing Business

Natuzzi Sets New Board

The board of directors for Natuzzi (NYSE: NTZ) has reconfirmed Pasquale Natuzzi as CEO of the company bearing his name.

The board, which was elected at the company's annual meeting earlier this week, consists of nine members, four of whom  were previously on the board. Those four are: Natuzzi, who is also chairman, Antonisa Perrone, Guiuseppe Antonio D'Angelo and Giuseppe Marino.

New board members are: Dimitri Duffeleer, managing director and co-founder of Quaeroq CVBA, an investment firm focused on small and mid-sized companies and a holder of 5 percent of Natuzzi's outstanding shares; Cristina Finocchi Mahne, professor of advanced business administration of economics at the Economics of the University of Rome La Sapienza; Ernesto Greco, CFO and general manager of administration, control and information systems for the Ferragamo Group; Vincenzo Perrone, professor of organizational theory and behavior at Bocconi University, Milan; and Stefania Saviolo, director of the Luxury & Fashion Knowledge Center at SDA Bocconi School of Management, Milan.

“I thank our shareholders and directors for the confidence they have shown in me by confirming me as chairman and chief executive officer," Natuzzi said. "I also thank the outgoing members of the board for their contribution over the past few years, and I also wish to thank those who have been re-elected to the board for their contribution over the coming years. I welcome the new five directors, who are all prestigious professionals with particularly distinctive backgrounds. The new board of directors will be in charge of supporting management in achieving our ambitious goals included in the 2014-2016 business plan, approved on February 28, 2014, and that foresees, after a two-year period dedicated to the restructuring of our operations and the execution of the strategy, an increase in sales and a return to profitability.”

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