Prada finance chief Donatello Galli resigns

Italian luxury goods group Prada has announced departure of its finance chief Donatello Galli with immediate effect. The announcement comes two days after the company reported flat annual sales results on the back of weaker demand in Greater China. Meanwhile, Alessandra Cozzani, Head of investor relations and Executive Director of the company will step into the position vacated by Galli.

Prada said in a statement to the Hong Kong stock exchange that Donatello Galli has decided to leave the company for personal reasons and there has been no disagreement with the board during his tenure. “There is no other matter relating to his resignation that needs to be brought to the attention of shareholders of the group,” the statement read.

Galli, who was also a board member, had been chief financial officer since 2004. The company said that a search is now underway for a new board member.