Pattern, Fulvio Botto is new chairman of the board of directors

(Alliance News) - Pattern Spa announced Thursday that Francesco Martorella has stepped down as chairman of the board of directors.

The agreement signed by Pattern with Burberry Limited last March 27, in fact, provides for Martorella's temporary secondment at the divested branch for the duration of two years.

The board of directors, in his stead, has appointed vice chairman Fulvio Botto.

The company also reports that, in compliance with contractual agreements requiring Francesco Martorella to remain on Pattern's board without delegated authority, the board of directors has redefined the system of board proxies.

Specifically, it reconfirmed Luca Sburlati's role as managing director and granted additional single and joint proxies to directors Fulvio Botto, Innocenzo Tamborrini and Diego Dirutigliano.

The board also resolved to appoint as an Independent director, by co-optation, Simonetta Cavasin, who will remain in office until the next shareholders' meeting.

Pattern's stock is flat at EUR7.40 per share.

By Chiara Bruschi, Alliance News reporter

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