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Tuesday / July 16.
HomeminewsTabacchis Resign

Tabacchis Resign

Safilo Group has announced the resignation of three key company exectutives – two of whom are members of the company’s founding family. They include chairman Vittorio Tabacchi, executive vice chairman, Massimiliano Tabacchi and independent director, Ennio Doris.

These resignations come in the context of “the recapitalisation transaction aimed at strengthening Safilo Group S.p.A. and Safilo Group capital and financial structure in accordance with the Investment Agreement signed on October 19, 2009 by Safilo Group S.p.A., HAL Holding N.V. and Only 3T S.p.A”, said the company in its release to the media late February.

At the time of going to press, the Executive Vice Chairman Massimiliano Tabacchi still owned 66,800 ordinary shares in the company.

The statement from Safilo went on to say that “on the basis of Article 15 of Safilo’s Articles of Association, the board of directors therefore terminates with effect from the Ordinary Shareholders’ meeting which will appoint the new board of directors. A board of directors will shortly call the Ordinary Shareholders’ meeting for the appointment of the new directors; until that date, the current Board will carry out the ordinary administration.”

“The notice of the call of the Ordinary Shareholders’ Meeting will be duly published and made available on the company website (www.safilo. com). The appointment of the Board of Directors will take place on the basis of the lists of candidates presented.”