MILAN — Giorgio Armani has appointed deputy managing director Giuseppe Marsocci as chief executive with immediate effect, the Italian fashion house said on Thursday, confirming media reports. Marsocci, who has been with the company for 23 years, serving as global chief commercial officer for the past six years, steps into the role previously held by founder Giorgio Armani, who died in September. Armani kept a tight grip on the fashion empire he set up 50 years ago, but a new structure is emerging for its next phase. Marsocci will oversee the planned sale of a 15% stake, with priority to be given to the luxury conglomerate LVMH.PA, beauty heavyweight L’Oreal OREP.PA, eyewear leader EssilorLuxottica ESLX.PA or another group of “equal standing,” as outlined in Armani’s will. “His international professional experience, deep knowledge of the sector and the company, discretion, loyalty, and team spirit, together with his closeness to Mr. Armani…
