Alessandro Benetton Steps Down

Alessandro Benetton is taking a step back from his role as chairman of the family-owned Benetton Group S.p.A (Treviso, Italy) and, for the first time in the history of the 49 year old company, a non-family member will lead the business, reported Women's Wear Daily.

Gianni Mion was appointed non-executive chairman. Marco Airoldi was nominated chief executive officer, succeeding Biagio Chiarolanza. The Italian fashion company also appointed a new board.

Alessandro Benetton returns to being executive chairman of private equity fund 21 Partners, which he founded in 1992 and was then called 21 Investimenti. He took on the leading position at Benetton in April 2012, succeeding his father Luciano Benetton, who had overseen the company for 47 years.