GENEVA, 24 MAY 2019
Adrien Marazzi Fashion Group [AMFG] today announces the appointment of Christopher McKay as Chief Executive Officer and his appointment to the Board of AMFG as an Executive Director with immediate effect.
Adrien Marazzi, Chairman of Adrien Marazzi Fashion Group, said: “The Board carried out a rigorous selection process, assessing internal and external candidates. That process, alongside Christopher’s wise and effective stewardship of the business in the last few months, left us with no doubt that he is the right leader for this company, and we are delighted to announce the Board’s unanimous decision to appoint him as Chief Executive Officer of AMFG.
Recognised for his leadership throughout the industry, he has an intimate understanding of the business, he enjoys very strong internal support, and he has earned the respect and endorsement of our clients with his constant focus on their needs. He has played a central role in many of AMFG’s most successful investments and initiatives, and he has deep experience at board and operational level. In short, he is in every way a 21st-century CEO.
Adrien Marazzi Fashion Group has everything that’s needed to become a world leader in the fashion industry. The priority for the Board and the task ahead for Christopher and the new management team is to build on this position of strength, while pursuing a clear vision for change and value creation.”
Adrien Marazzi continued: “AMFG is a great company with exceptional people and strong relationships with clients who place a high value on our work. Few organisations have our global reach and fewer still have our powerful combination of creativity and expertise in the field of fashion.
Our industry is going through a period of structural change, not structural decline, and if we embrace that change we can look ahead to an exciting and successful future. Our mission now is to release the full potential that exists within the company for the benefit of our clients, to accelerate our transformation and simplify our offering, and to position Adrien Marazzi Fashion Group for stronger growth.
To achieve that we need to foster a culture that attracts the best and brightest: inclusive, respectful, collaborative, diverse. What makes our company special is its people, and I am very proud to have been given the chance to build a new Adrien Marazzi Fashion Group with them.”
Christopher McKay will be paid in accordance with the Compensation Policy approved by share owners on 7 June 2017, as set out in the 2016 Annual Report.
- Annual Salary of CHF 975,000.
- Annual Bonus of up to 250% of salary with mandatory deferral of at least 40% of bonus into shares deferred for a two-year period.
- LTIP award of 350% of salary. Performance will be measured over a five-year period using measures in line with our Compensation Policy.
- A cash allowance of 20% of salary, less employers’ national insurance, in lieu of pension.
- A benefits allowance of CHF 35,000 per annum to cover health, risk and other benefits.
His contract of employment contains restrictive covenants including an industry non-compete, a non-deal with clients and a non-poach and non-employ of key AMFG individuals.
Alessandra Meoli, Press Secretary
ADRIEN MARAZZI FASHION GROUP
+41 (0)22 544 38 31