What is going on between Chiara Ferragni and Tod's board of directors?

UPDATE 08.09.22: After joining the board of Tod's in April 2021, Chiara Ferragni is no longer an independent member of the board of directors of the Marche-based brand. Ending the famous Ferragni effect that had caused the group's shares to rise, the company has now announced its exit as the entrepreneur's independence requirements have ceased to apply.

Specifically, the note released by the group adds, «having taken note of the statement made by the director Chiara Ferragni regarding the fact that she no longer meets the requirements to be qualified as independent under Article 148 of the Tuf and Article. 2, Recommendation 7 of the Corporate Governance Code, because of an occasional provision of advertising services in favor of the Company - made after the opinion of the Opc Committee -, and since it cannot be aprioristically excluded that, in the future, other opportunities for collaboration may arise» the board «has consequently carried out the verifications within its competence, and ascertained the loss of the requirement of independence in the case of Chiara Ferragni, who is not a member of any end consulting committee».

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Tod's, the brand and industrial group presided over by Diego Della Valle, has a new member on its board of directors: Chiara Ferragni. The entrepreneur and mega-influencer have been appointed "considering increasingly important to deal with social commitment, solidarity towards others and sustainability in respect of the environment and dialogue with the younger generations", as we read in the note published by the brand. At the news of the appointment, tod's Group shares increased by +5.92% in Piazza Affari.

Rereading Tod's values and classic aesthetics for the new generations, modernizing the brand's strategy, will therefore be Chiara Ferragni's mission as a member of the brand's Board of Directors. This appointment will open not only Tod's brand but the entire industrial group of which it is part (which also includes Hogan, Fay, and Roger Vivier) towards new horizons – at a potentially crucial moment for the affirmation of fashion industrial groups in Italy, of which Giorgio Armani also said he was a supporter a few days ago.