Salvatore Ferragamo CEO Gobbetti to Exit Luxury Brand Early (1)

Salvatore Ferragamo SpA said Chief Executive Officer Marco Gobbetti is leaving almost two years before his contract expires, as the Italian maker of footwear and leather goods struggles to pull itself out of a sales slump.

Gobbetti’s departure, which is effective March 6, was by mutual agreement between the Italian executive and the company, Ferragamo said in a statement. The company said it’s immediately starting a search for his replacement.

Until there is a new CEO, executive powers will be granted to Chairman Leonardo Ferragamo, the Florence-based firm said. Last year, Ferragamo had extended Gobbetti’s contract through at ...