Michela Piva has been named as the new CEO of Gianfranco Ferré by parent company IT Holding.

She joined Ferré in 2003, covering prominent roles in Europe, Asia and the US and up to June 2004 worked for the IT Holding Group, before becoming marketing and merchandising director of Ferré in June 2004.

IT Holding's chairman Tonino Perna said: "The nomination of Michela Piva as CEO of Ferré represents a fundamental step in the company's development strategy and is consistent with the project kicked-off in September with the nomination of Lars Nilsson as creative director.

"Michela Piva has a solid background in the luxury market, deep experience of international markets and a direct knowledge of the 'Maison Ferré' for which she has worked with continued success over the last five years."

The luxury goods firm also said today (19 November) that the appointment, together with the elimination of the position of vice chairman of IT Holding, completed its reorganisation process.

The new structure sees Perna as chairman and CEO of IT Holding, while there are CEOs for each of the single subsidiaries of Gianfranco Ferré, Malo, Ittierre and +IT.

"This new organisation permits, on one hand, to have better identified responsibilities and to maintain the independence of each single business," a statement said.

"On the other hand, it allows the chairman to reduce his operational role within the group, which has seen him active in restructuring Ferré, repositioning Malo as a luxury brand, consolidating the leadership of the young lines division and developing the +IT Accessories project."