James Ferragamo will succeed his father only if it is “right for the company”
30/07/2014
He added that he would prefer James Ferragamo to be “a rich shareholder [in the company] than a poor chairman”.
The comments came in an interview with the Financial Times at the end of July, in which the current chairman, who is approaching his seventies, paid tribute to the inventiveness of his father, Salvatore, in founding the brand, registering as many as 350 footwear patents and leaving an archive of 14,000 shoe designs, and to the energy, drive and unifying spirit of his mother, Wanda, who led the company after her husband died suddenly in 1960.
At his mother’s insistence, all family members own the same number of shares and those who work in the company all earn the same salary.
James Ferragamo is currently head of women’s leathergoods for the brand.
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