June 24, 2019 / 7:13 PM / in a month

Benetton family's holding company names veteran Mion as chairman

MILAN (Reuters) - Edizione, the holding company of Italy’s Benetton family, said on Monday its shareholders had appointed veteran manager Gianni Mion as chairman of the group’s new board.

Edizione, the leading shareholder of toll-road operator Atlantia, said in a statement its new board would remain in place until the approval of 2019 results.

Mion’s appointment comes at a critical time for the Benetton family following the deaths last year of Gilberto Benetton and his brother Carlo.

Gilberto, co-founder of retailer United Colors of Benetton, was the mastermind behind the family empire’s diversification into construction, transport and catering.

Besides Atlantia, the Benettons also control travel caterer Autogrill and own stakes in a series of prominent companies including insurer Generali and mast operator Cellnex.

Mion, who replaces Fabio Cerchiai as chairman, was for years the right-hand man of Gilberto.

The Benettons, one of Italy’s richest families, came under pressure last year after the collapse of a bridge in Genoa operated by a unit of Atlantia killed 43 people.

Earlier this year, Marco Patuano stepped down as chief executive of Edizione but was not replaced in a move seen by some as giving the family’s second generation more say in running its financial empire.

On Monday Patuano said he had resigned from the boards of Atlantia and Autogrill.

Reporting by Stephen Jewkes; Editing by Toby Chopra

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