Italian entrepreneur Luciano Benetton, aged 89, is stepping down from the management of the company he co-founded. In an interview with the Milan daily Corriere della Sera, Benetton expressed feeling betrayed by his managers as the company failed to meet its 2023 targets, resulting in a 100 million euro loss.
Since taking back control of his fashion group in 2018, Benetton has been disappointed with the results and has focused on restructuring the business. The collapse of the Morandi motorway bridge in Genoa in 2018, operated by Autostrade per l’Italia under Atlantia, resulted in tragedy and legal proceedings against the managers.
The Benetton family also has investments in other companies like Atlantia and Autogrill, with interests in various sectors such as airports, banks, service stations, and motorway operators. The future of the Benetton Group will be closely watched by industry observers and stakeholders alike as they prepare for a change in leadership and a reorganization plan.
