Chiara Ferragni is no longer an independent director of the Tod’s Board of Directors. The famous Ferragni effect seems to have ended, which had recorded a rise in the group’s shares. The company has now announced its release as the entrepreneur’s independence requirements have ceased.
Specifically, the note released by the group adds: “Taking note of the declaration made by the director Chiara Ferragni regarding the failure, by the same, of the requirements to be qualified independently under art. 148 of the Tuf and art. 2, Recommendation 7 of the Corporate Governance Code, due to an occasional provision of advertising services in favor of the Company – made after consulting the Opc Committee -, and since it cannot be a priori excluded that, in the future, other collaboration opportunities will arise ».
The 27.7 million followers influencer is also keen to clarify and the fact that other advertising campaigns are not excluded in the future. Indeed, as she herself has made it known in her Instagram stories: “I confirm that I am still a member of the Tod’s board of directors, but no longer in the qualification of independent member. I find the experience I am living super formative and innovative “.
At the news of the appointment in April 2021, the shares of the Tod’s Group had increased by + 5.92% in Piazza Affari.