Celebrities

Pantaleo Dell’Orco to Lead Giorgio Armani Foundation

The foundation currently holds 30% of the company’s voting rights
Pantaleo Dell’Orco to Lead Giorgio Armani Foundation
Photo: MARCA

The Giorgio Armani Foundation, a central pillar of the late designer’s succession and long-term business plan, will now be chaired by Armani’s long-time partner and trusted confidant Pantaleo Dell’Orco, according to Reuters.

Dell’Orco, who inherited the largest share of the company and the main voting rights following Armani’s death last month, will lead the board alongside one of Armani’s nephews and three independent members. The foundation, created in 2016 to safeguard Armani’s legacy, now plays a decisive role in shaping the brand’s future ownership and management.

Armani’s Will

Giorgio Armani, known as «King Giorgiopassed away on September 4 at the age of 91. His will outlined a detailed succession plan, including the gradual sale of the luxury fashion house to a select group of potential buyers such as LVMH, L’Oréal, or EssilorLuxottica, or alternatively, a possible public listing.

The foundation currently holds 30% of the company’s voting rights, while Dell’Orco controls 40%. Armani’s nephew, Andrea Camerana, holds 15%. The remaining board members — banker Irving Bellotti from Rothschild, lawyer Andrea Silvestri from Legance, and Milanese notary Elena Terrenghi — ensure that the majority of the board remains independent.

Under the foundation’s bylaws, all five board members must reach unanimous agreement on major corporate decisions, including votes at extraordinary shareholders’ meetings.

Armani’s will also instructs his heirs to sell a 15% stake in the group within 18 months, giving priority to leading luxury groups such as LVMH, L’Oréal, or EssilorLuxottica. A further 30% to 54.9% could then be sold within three to five years to the same buyer, or alternatively, the company could pursue an initial public offering.

The foundation will also be responsible for proposing the name of Armani’s next chief executive, marking a crucial step in ensuring continuity and stability within one of Italy’s most iconic fashion houses.