(Alliance News) - Aeffe Spa announced on Thursday that it has appointed Riccardo Bagolin as its new General Manager, effective June 3.

Aeffe specified that the new General Manager will work closely with Chief Restructuring Officer Stefano Falliti to support management in the group's turnaround process.

As of the date of his appointment, Bagolin does not hold any shares in Aeffe.

Aeffe's stock closed Thursday down 2.8% at EUR0.1545 per share.

By Antonio Di Giorgio, Alliance News reporter

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