Italian clothing group Benetton said in a statement on Wednesday that Tommaso Bruso would become Chief Operating Officer while Chief Executive Marco Airoldi – a former partner at Boston Consulting who took the helm at Benetton in 2104 – was stepping down.
Marco Airoldi took the post of CEO in 2014, launching a plan to refocus the brand on targeted markets and overseeing a redesign of the brand’s stores.
Bruso started his career in Benetton, first in Italy and then in the U.S., and is currently CEO in North America for the Fedon, Furla and Diesel fashion brands.
According to a Reuters reports: The company, which has 5,000 stores around the world, in 2013 embarked on a restructuring plan aimed at cutting down losses and retaking its place among forefront fashion brands.
The company famous for its colorful knitwear has struggled from competition from fast-fashion brands like Zara and H&M, delisting from the stock exchange in 2012 and bringing in a new team of executives from outside the family.