A crunch board meeting of the
Benetton Group got under way in Ponzano Veneto in province of
Treviso.
The meeting is called to approve the 2023 balance sheet
featuring a net loss estimated to be around 230 million euros.
The Benetton family's Edizione holding company, which controls
the fashion retailer, is expected to inject around 150 million
euros in liquidity to cover immediate needs.
The Group is reportedly set to part company with CEO Massimo
Renon after four years.
Chairman and co-founder Luciano Benetton accused Renon and his
managers of hiding the scale of the losses in an interview with
Corriere della Sera at the weekend.
Luciano Benetton, 89, is set to step down too.
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