Prada S.p.A. announced that Mr. Stefano Simontacchi has tendered his resignation as a Non-Executive Director of the company with effect from January 26, 2023, in order to enable the appointment of Mr. Andrea Guerra as member of the Board of the company ahead of the expiration of the current term. Mr. Andrea Guerra, aged 57, has been appointed as an Executive Director and the Chief Executive Officer of the Company on January 26, 2023. Prior to join Prada, Mr. Guerra was the strategic advisor of LVMH, the chief executive officer of Hospitality Excellence at LVMH Moët Hennessy Louis Vuitton SE (September 2020 to May 2022), executive chairman of the high-end food emporium Eataly (September 2015 to May 2019), the chief executive officer of the eyewear giant Luxottica Group S.p.A. (July 2004 to September 2014), and was the chief executive officer of Merloni Elettrodomestici (now Indesit Company) (2000 to 2004).

Mr. Guerra obtained a degree in Business Administration from Sapienza University of Rome in 1989. From December 2014 through October 2015, he was appointed as senior strategic advisor for business, finance and industry to the Italian Government's Prime Minister. He was a member of the boards of directors of Bocconi University (November 2014 - October 2018) and Save the Children Italy, and is a shareholder of online newspaper Linkiesta.

Over the years, Mr. Guerra was a member of the strategic committee of Italian Strategic Fund (Fondo Strategico Italiano S.p.A.). He was also a member of the board of directors of Amplifon S.p.A., and a member of the strategic committee of Ariston Thermo S.p.A., both companies listed on the Italian Stock Exchange. He held the position of director on the boards of Parmalat S.p.A., and DeA Capital S.p.A., both companies listed on Italian Stock Exchange, and Banca Nazionale del Lavoro S.p.A. Mr. Andrea Guerra has entered into a letter of appointment with the Company for an initial term until the date of forthcoming shareholders' annual general meeting to approve the financial statements of the Company for the year ended December 31, 2022.

Mr. Guerra's appointment as an Executive Director will be subject to election by the shareholders at the 2023 AGM and his mandate as an Executive Director, if so elected, shall lapse at the same time as the other current Directors (that is, the date of the shareholders' annual general meeting to be called to approve the financial statements of the Company for the year ending December 31, 2023).