At its meeting on July 7, 2014 the Board of Directors of Moncler S.p.A. approved the resignation of the independent director Valérie Hermann due to unforeseen professional commitments. Ms. Hermann also resigned as a member of the company's Control and Risks Committee and Nomination and Remuneration Committee. The board accordingly co-opted Gabriele Galateri di Genola onto the board in accordance with article 2386 of the Italian civil code and article 13.4 of the company's bylaws.

Mr. Galateri di Genola will hold office until the next Shareholders' Meeting. At its meeting the Board of Directors also completed the company's internal committees by appointing Mr. Galateri di Genola as an independent member of the Control and Risks Committee and Nomination and Remuneration Committee in place of Ms. Hermann. Mr. Galateri di Genola also takes over from director Alessandro Benetton as Chairman of the Control and Risks Committee.