Safilo appoints new CEO

Eyewear manufacturer Safilo has appointed a new CEO this week, following the sudden departure Luisa Delgado, who relinquishes her role at the Italian firm for personal reasons, as of 28 February 2018.

The maker and distribution of luxury sunglasses has named Andrea Trocchia as its new CEO. Trocchia will become director of the Safilo group on 1 April 2018.

Until a new CEO is appointed, Safilo’s President Eugenio Ranzelli will take charge of the business in the interim, Safilo said in a press release. The firm added that Delgado’s contract was terminated by mutual agreement with the group’s board.

Delgado’s severance package will be worth €1 million, plus vested stock options and other non-monetary benefits.

Trocchia will join Safilo Group S.p.a. as a director at the beginning of April. He will be included in the list put forward by Multibrands Italy BV, the eyewear group’s holding company, to be appointed CEO of Safilo Group S.p.a. at the next AGM on 24 April 2018.

Trocchia was previously chairman and CEO of Unilever Italia, a role he held since 2013. Before this, he was chairman and CEO of Unilever Israel. After an MBA at the STOA’/MIT in Naples and a PhD in aeronautical engineering at the University La Sapienza in Rome, Trocchia began his career at Unilever in 1991, in the supply chain and sales departments.

Safilo has been experiencing difficulties for several quarters. It claims to be still affected by the termination of its Gucci eyewear licence, which took place in December 2016.

At the end of the 2017 financial year, consolidated net sales were €1.047 billion, down €194 million (-15.6%) at constant exchange rates compared to the 2016 financial year. At the time of reporting last months, Safilo said the “sales decrease reflects both the transformation of the Gucci licence into a supply contract, for a total of €155 million (-12%), and the deployment of a new IT system for the global management of orders and stocks at the start of the year.”