Skip to main content
The Globe and Mail
Support Quality Journalism
The Globe and Mail
First Access to Latest
Investment News
Collection of curated
e-books and guides
Inform your decisions via
Globe Investor Tools
Just$1.99
per week
for first 24 weeks

Enjoy unlimited digital access
Enjoy Unlimited Digital Access
Get full access to globeandmail.com
Just $1.99 per week for the first 24 weeks
Just $1.99 per week for the first 24 weeks
var select={root:".js-sub-pencil",control:".js-sub-pencil-control",open:"o-sub-pencil--open",closed:"o-sub-pencil--closed"},dom={},allowExpand=!0;function pencilInit(o){var e=arguments.length>1&&void 0!==arguments[1]&&arguments[1];select.root=o,dom.root=document.querySelector(select.root),dom.root&&(dom.control=document.querySelector(select.control),dom.control.addEventListener("click",onToggleClicked),setPanelState(e),window.addEventListener("scroll",onWindowScroll),dom.root.removeAttribute("hidden"))}function isPanelOpen(){return dom.root.classList.contains(select.open)}function setPanelState(o){dom.root.classList[o?"add":"remove"](select.open),dom.root.classList[o?"remove":"add"](select.closed),dom.control.setAttribute("aria-expanded",o)}function onToggleClicked(){var l=!isPanelOpen();setPanelState(l)}function onWindowScroll(){window.requestAnimationFrame(function() {var l=isPanelOpen(),n=0===(document.body.scrollTop||document.documentElement.scrollTop);n||l||!allowExpand?n&&l&&(allowExpand=!0,setPanelState(!1)):(allowExpand=!1,setPanelState(!0))});}pencilInit(".js-sub-pencil",!1); // via darwin-bg var slideIndex = 0; carousel(); function carousel() { var i; var x = document.getElementsByClassName("subs_valueprop"); for (i = 0; i < x.length; i++) { x[i].style.display = "none"; } slideIndex++; if (slideIndex> x.length) { slideIndex = 1; } x[slideIndex - 1].style.display = "block"; setTimeout(carousel, 2500); }

Italian businessman Andrea Guerra, seen participating in a TV program in Rome, Italy, on Feb. 28, 2008, will remain as chairman at Eataly.

REMO CASILLI/Reuters

Italian businessman Andrea Guerra is relinquishing his executive functions at high-end food retailer Eataly, but will remain as chairman, the company said on Friday.

The change to Mr. Guerra’s position as executive chairman is part of a broader governance review, Eataly said in a statement.

The Corriere della Sera newspaper said Mr. Guerra, who had previously been a decade at the helm of eyewear giant Luxottica Group, would stay on as chairman without executive powers “at least for the whole of 2020.”

Story continues below advertisement

Reuters reported on Thursday that Mr. Guerra would step down as executive chairman.

“A five-year path has been completed. … I will rest a little and will then consider new business opportunities,” Mr. Guerra was reported by Corriere della Sera as saying.

Mr. Guerra took on his position at Eataly in October, 2015, a year after a clash with Luxottica founder Leonardo Del Vecchio led to his departure from the maker of Ray Ban and Oakley sunglasses.

Eataly said Nicola Farinetti, one of the three sons of the group’s founder, would stay on as chief executive.

“Andrea gave a decisive contribution to accelerating the development of the company,” founder Oscar Farinetti said in the statement.

Eataly, which sells Italian delicacies from pasta to panettone at stores around the world, added it would announce its results for 2019 in February.

The company has said it expects revenues this year to increase to €690-million ($1-billion) to €720-million euros.

Story continues below advertisement

“Eataly does not need to rake up pennies on the market, it is able to finance its growth easily with its cash flow” Mr. Farinetti told Corriere della Sera, without excluding a future listing on the New York stock exchange.

He added the shareholding structure of the group would not change.

Related topics

Report an error
Due to technical reasons, we have temporarily removed commenting from our articles. We hope to have this fixed soon. Thank you for your patience. If you are looking to give feedback on our new site, please send it along to feedback@globeandmail.com. If you want to write a letter to the editor, please forward to letters@globeandmail.com.

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff. Non-subscribers can read and sort comments but will not be able to engage with them in any way. Click here to subscribe.

If you would like to write a letter to the editor, please forward it to letters@globeandmail.com. Readers can also interact with The Globe on Facebook and Twitter .

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff. Non-subscribers can read and sort comments but will not be able to engage with them in any way. Click here to subscribe.

If you would like to write a letter to the editor, please forward it to letters@globeandmail.com. Readers can also interact with The Globe on Facebook and Twitter .

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff.

We aim to create a safe and valuable space for discussion and debate. That means:

  • Treat others as you wish to be treated
  • Criticize ideas, not people
  • Stay on topic
  • Avoid the use of toxic and offensive language
  • Flag bad behaviour

Comments that violate our community guidelines will be removed.

Read our community guidelines here

Discussion loading ...

To view this site properly, enable cookies in your browser. Read our privacy policy to learn more.
How to enable cookies