PADUA, Italy—Safilo Group S.p.A. (SFLG.MI) has announced that shareholders have approved the company's 2023 financial statements and the board of directors’ report during their annual meeting yesterday, and viewed consolidated financial statements. In addition, a new board of directors was appointed, and as its first action confirmed that Angelo Trocchia, who has served as chief executive officer since April 2018, would continue in this role. Eugenio Razelli has been named chairman of the board of directors, according to the announcement, and director Jeffrey A. Cole is no longer serving on the board.

As reported in VMAIL, in mid March, the company's board of directors at that time had approved consolidated financial statements for the year ended December 31, 2023, and examined the separate financial statements for the same time period. These showed that Safilo closed 2023 with net sales of €1,024.7 million, down 2.3 percent at constant exchange rates and 4.8 percent at current exchange rates compared to €1,076.7 million recorded in 2022.

Yesterday, the board resolved to keep the number of members at 10 and appointed members based on lists of candidates presented by the shareholders. From the list obtaining the majority of the votes, presented by the shareholder Multibrands Italy B.V. (company controlled by HAL Holding N.V.), holder of 49.817 percent of the share capital, Razelli, Trocchia, Melchert F. Groot, Cinzia Morelli-Verhoog, Ines Mazzilli, Gerben van de Rozenberg, Robert Polet, Katia Buja and Irene Boni were elected.

From the second list by number of votes, presented by BDL Capital Management (manager of the funds BDL Rempart, BDL Convictions e RBDL), holder of 14.99 percent of the share capital, Matthieu Brisset was elected. The new board of directors will hold office until the approval of the financial statements on December 31, 2026.

Also at the shareholders meeting, the board of directors appointed members to specific committees, including the following:

● Mazzilli, Brisset, and van de Rozenberg, all non-executive and Mazzilli and Brisset independent, were appointed as members of the Control and Risk Committee.

● Razelli, Trocchia and Katia Buja, and the managers of the group Vladimiro Baldin, Andrea Grassini, Marco Cella and Alberto Macciani, were appointed as members of the Sustainability Committee.

● Morelli-Verhoog, Boni, and Groot, all non-executive and Morelli-Verhoog and Boni independent, were appointed as members of the Remuneration and Nomination Committee.

● Mazzilli, Morelli-Verhoog and Brisset, all non-executive and independent, were appointed as members of the Transactions with Related Parties Committee.

In addition, shareholders of the subsidiary Safilo S.p.A. authorized the purchase and disposal of ordinary shares of the parent company Safilo Group S.p.A., inter alia, to a maximum number of 16,000,000 shares or approximately 3.9 percent of the shares currently issued by Safilo Group S.p.A, to service the company's 2023-2025 stock option plan.