Italian design house Giorgio Armani announced several management changes yesterday, naming a new deputy chairman and an executive in charge of financial management and investments.

The group said in a statement Gianni Gerbotto would leave his position as general manager of Giorgio Armani SpA and would now be responsible for the company’s financial management and investments within the board of directors.

Deputy General Manager John Hooks will become deputy chairman and will join the board with responsibility for global commercial strategy and markets and brands development.