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Article: DE SOLE SELLS $25M IN GUCCI OPTIONS.(Domenico De Sole)(Gucci Group )
- Article from:
- WWD
- Article date:
- January 28, 2004
- Author:
CopyrightCOPYRIGHT 2004 Conde Nast Publications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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LONDON -- Call it the golden goodbye.
So far this month, Gucci Group's outgoing chief executive Domenico De Sole cashed in stock options worth more than $25 million via a series of transactions conducted between Jan. 8 and Jan. 22, according to the Dutch AFM Financial Markets Watchdog.
"Mr. De Sole has been exercising options," a Gucci spokesman confirmed Tuesday. "He has obtained stock options over many years from 1995 and he rarely exercised them -- out of a sign of support for the company."
Times have certainly changed, and De Sole, who will step down along with Gucci Group creative director Tom Ford in March, is clearly cashing in on ...