Italian fashion house Prada is to reshuffle its senior management structure following the sudden resignation of chief financial officer Ricardo Stilli.

Prada says it has already found a successor for Stilli - whose departure remains unexplained - to oversee finance, administration, legal, human resources and information technology.

Each of these five areas is to get its own head who will report to the new senior executive.

Tha management reorganisation comes as the company contemplates an initial public offering in the first half of next year.