(AGI) Florence, May 12 - The Board of Directors of the Salvatore Ferragamo group on Thursday examined and approved the consolidated interim report for the first quarter of 2016, in which the group registered 321 million euros in revenues. This was a 2 percent drop compared to 327 million in the same period last year. The Earnings Before Interest Taxes Depreciation and Amortisation (EBITDA) rose by 5 percent from 61 million euros in the first quarter of 2015 to 64 million this year, while the Earnings Before Interest and Taxes (EBIT) increased by 4 percent from 47 million to 49 million euros. The group's profit before taxes in the first three months of 2016 rose by 2 percent to 45 million euros from 44 million in 2015, and the net profit for the period - including the negative minority interest of 1 million euros - totalled 34 million euros, marking a 6 percent increase. The group net profit amounted to 34 million euros versus 31 million, growing 10 percent compared to last year. The board also examined the group's top management succession plan, which will be finalised on August 2 with the resignation of Michele Norsa and the co-optation of Eraldo Poletto as CEO. Mr Poletto boasts a consolidated experience in the fashion and luxury sector and is currently the acting CEO of Furla, having helmed the company's development and internationalisation since 2010. From 1997 to 2010, he contributed to the long-term, global scale relaunch and development of Brooks Brothers as Chief Merchandising Officer, working closely with the company's CEO and Chairman. During the board meeting, Chairman Ferruccio Ferragamo confirmed that an agreement on the end of his mandate was reached with CEO Michele Norsa, who foresees that his collaboration with the group will continue in the quality of Strategic Consultant for Ferragamo Finanziaria. (AGI). .