MILAN – Michele Melotti has been promoted to the role of Safilo Group chief financial officer and manager responsible for the preparation of the company’s financial documents, effective Aug. 28.
He succeeds Gerd Graehsler, who, as reported last week, resigned from the Italian eyewear manufacturer for a new opportunity.
Graehsler’s exit, also on Aug. 28, was revealed at the end of trading on Friday in Milan, where Safilo is publicly listed. Melotti’s nomination was announced today before the opening of the Bourse. The changes did not affect the performance of shares, which inched up 0.7 percent to 1.14 euros by mid-morning.
Melotti began his professional career in KPMG Advisory S.p.A. and joined Safilo in 2012. During his 11 years with the company, he has assumed roles of increasing responsibility within finance and accounting. In 2016 he was appointed senior director, finance and accounting, Western Europe and global accounts – and in 2019 he was named to his current role of senior director, group controlling.
As reported, Safilo closed 2022 with sales surpassing the 1 billion euro threshold, two years ahead of plan and concluding four years of turnaround, which contributed to a remodeling of the Italian eyewear company. Proprietary brands represented an important driving force behind the group’s overall performance, in particular Smith, Carrera and Polaroid.
Safilo also produces eyewear collections under licensing agreements for brands including Tommy Hilfiger, David Beckham, Carolina Herrera, Chiara Ferragni, Isabel Marant, Jimmy Choo, Marc Jacobs, Missoni and Moschino.
Angelo Trocchia has been helming Safilo as chief executive officer since February 2018. He was previously chairman and CEO of Unilever Italia and he has been leading the company through major changes, after the decamping of the key Gucci license to Kering Eyewear and of the Fendi and Dior licenses to Thélios.
Safilo first-half results will be released on Aug. 2.