THE ITALIAN SEA GROUP THE BOARD OF DIRECTORS APPOINTS SIMONA DEL RE AS MEMBER AND CHAIRWOMAN OF THE BOARD OF DIRECTORS

The Italian Sea Group announces that, on 9 June 2024, following the resignation from office by Mr. Filippo Menchelli, the Board of Directors resolved to co-opt in the Board of Directors, pursuant to Article 2836 of the Italian Civil Code, Ms Simona Del Re, appointing her as Chairwoman of the Company until the next Shareholders’ Meeting.

A professional with an international profile, Ms Del Re boasts twenty years of experience in luxury across several industries - from fashion to luxury retail and yachting – having held managerial positions of growing responsibility with prestigious global brands.

With a degree in Business Administration from Bocconi University in Milan, Simona Del Re has held, among others, the role as Worldwide Corporate Communications Manager at Gucci and, successively, the role as Strategic Communications Director at The Lane Crawford Joyce Group, Asian leader in luxury retail based in Hong Kong. Having joined TISG in 2022, Simona Del Re has established and led the ESG & Corporate Affairs department, and then she took on the responsibility of Corporate Governance and Investor Relations. Ms Del Re currently holds the role of Investor Relations & ESG Director.

Considering her international profile, sound background in the luxury industry working for structured companies, and the experience gained on Corporate Affairs and Governance matters, the Board of Directors considered Ms Del Re to be the ideal candidate for the office of member and Chairwoman of the Board of Directors.

Mr. Menchelli will maintain his role as the Company’s Chief Business Officer, with an even higher focus on the strategic and technical activities that he has been managing until now and which, in light of the significant growth experienced by the group in the latest years, will require an even higher level of dedication.

Founder & CEO Giovanni Costantino: “I am very satisfied with the Group’s growth in the latest years, crucial for the achievement of The Italian Sea Group’s positioning in what it is today, a reference player in luxury worldwide. The top management and the entire company have expressed and continue to express great passion and skills, and are ready to face new and increasing challenges.

Mr. Menchelli has been a leading player in this development path and will continue to be in the future stages of our growth. I deeply thank him for his work until now. I appreciate his decision to focus exclusively and with even higher depth on the extremely important business activities he manages, further confirming his integrity and dedication to the Company. Therefore, Mr. Menchelli, in his role as Chief Business Officer, will focus on the Company’s strategic and operational goals, with all his energy and the historical company knowledge gained through the years.

At the same time, I am glad that the Board of Directors has chosen Ms Simona Del Re to be the Company’s Chairwoman, for the excellent competences expressed in Corporate Governance and the coordination of the Board’s activities, at Mr Menchelli’s side.Her international profile and the experiences gained throughout her career will give great support to the Group’s future development.

I would like to renew my sincere thanks to CBO Filippo Menchelli and my best wishes for the new Chairwoman Del Re.”

CBO Filippo Menchelli: “I am proud of the journey in The Italian Sea Group and the great evolution the company experienced in the latest years. This new stage of growth requires an even higher and exclusive focus on the activities which fall under my responsibility. I thank the entire Top Management team, in particular our Founder & CEO Giovanni Costantino, and wish the greatest accomplishments to Simona Del Re in her role as Chairwoman.”

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