ROME – The renowned Italian fashion brand Armani has announced the formation of a new board to steer the company through a pivotal phase following the passing of its esteemed founder, Giorgio Armani, earlier this year.

The newly appointed board comprises eight members, chosen by both the Armani Foundation and Giorgio Armani’s heirs. Among them are John Hooks, a former leading executive at Armani, and Marco Bizzarri, the ex-CEO of Gucci.

Joining them on the board are Leo Dell’Orco as Chairman, Giuseppe Marsocci as CEO and managing director, Armani’s niece Silvana, his nephew Andrea Camerana, Yoox founder Federico Marchetti, and businessman Angelo Moratti.

After Armani’s passing at the age of 91 in September, longtime executive Marsocci was named the new CEO. He, along with the new board, is poised to guide the prestigious fashion house during this significant transition.

Giorgio Armani had directed that his heirs sell an initial 15% minority stake in his extensive fashion enterprise within 18 months following his passing, with a preference for potential buyers such as eyewear leader EssilorLuxottica, the French luxury group LVMH, or the cosmetics giant L’Oreal.

Dell’Orco said Friday the composition of the new board “represents the best guarantee for the continuation, enhancement, and modernization of the idea of beauty, the business model, and the ethical values developed by Mr. Armani over 50 years of history.”