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Reuters
Published
Mar 16, 2009
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Bulgari says CFO to leave, reorganises management

By
Reuters
Published
Mar 16, 2009

MILAN, March 16 (Reuters) - Italian jeweller Bulgari (BULG.MI) said its Chief Financial Officer Alberto Nathansohn was leaving the company and it was reorganising top management.



Bulgari said in a statement on Monday Nathansohn was leaving to "seize new professional opportunities", adding the resignation would be effective from the end of April.

Bulgari last week predicted 2009 would be "very difficult" after net profit fell 45 percent last year as consumers reined in spending on luxury items. It slashed its dividend by nearly 70 percent.

Flavia Spena, Corporate Human Resources, Organisation and Information Technology Executive Vice President, will take on the Corporate Finance and Administration responsibilities held by Nathansohn, the company said.

"In light of the cost control activity, carried out since the fourth quarter of last year to face the difficult macroeconomic environment, and to achieve a greater efficiency, to coincide with the resignation of Mr Nathansohn the Group has undertaken an internal reorganization of its top management," it said.

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