Prada charts line of business succession, tapping new CEO

The Prada fashion house has begun charting a line of succession on its business side by tapping a former LVMH executive as its next CEO. It also confirmed Tuesday that Miuccia Prada will continue in her creative roles. Andrea Guerra is set to be confirmed by the board next month as the new CEO, succeeding Patrizio Bertelli, who will remain as chairman. The move is intended as a step toward Bertelli and Miuccia Prada’s son Lorenzo Bertelli taking over as leader of the group. The statement emphasized that Miuccia Prada will remain co-creative director of Prada with Raf Simons, creative director of Miu Miu and a board member.