After 15 years and five consecutive mandates, Franco Spalla has stepped down as CEO of BasicNet, leaving his post to vice chairman Gianni Crespi.

The new CEO was appointed during a recent meeting of the board of directors held on 28 April 2016. Franco Spalla will continue to sit on BasicNet's board as Vice Chairman, and will advise on special or strategic projects.

BasicNet manages and owns various sportswear and casualwear brands including Kappa, K-Way and Superga. The group’s aggregate sales registered in 2015 amounted to over €730 million, 17% up on the 2014 figure, and their profits of €16,760 million were also up on the previous year –  by 34%.