Andrea Guerra, previous chief executive of the Italian multinational behind sunglasses brand Ray-Ban and for the previous year senior advisor to Italian prime minister Matteo Renzi, has actually been designated executive chairman of food merchant Eataly.

Mr Guerra, who has actually concerned embody a generational upheaval in Italian commercialism, informed the Financial Times that he would use up his new function from October 1.

Eataly, which posted earnings of EUR350m in 2015, is a worldwide Italian food cycle that has its best-performing shop on New York's Fifth Avenue.

Mr Guerra, in an interview, explained Eataly as "a melting pot" that is midway between an outdoor grocery store and an outlet store, and a location where "education and culture meet".

Along with Italian technology business Yoox and start-up incubator H-Farm, Eataly "is among those business that represent the new wave of this nation", Mr Guerra stated. "We can make things, we can construct new businesses. We can do it."

Mr Guerra was defenestrated from Luxottica, the biggest glasses group by revenues, where he had actually been chief executive for a years, last year, when the octogenarian founder Leonardo del Vecchio took back executive powers for himself.

The relocation revived worries about Italy's gerontocratic organisation culture and its 21st entrepreneurial despair, as a lot of best-known groups were founded throughout the country's postwar boom.

Mr Guerra took EUR40m in cash and shares from Luxottica, whose share rate had actually doubled during his period.

After leaving Luxottica, he became an advisor on market, finance and business to Italy's reformist prime minister Mr Renzi, who has promised to demolish Italy's old elites.

His most notable contribution has been to present other private sector organisation people to Mr Renzi, including Claudio Costamagna, former Goldman Sachs financial investment banker, and Fabio Gallia, head of BNP Paribas's Italy organisation.

The prime minister subsequently put the set in charge of Italy's EUR400bn sovereign wealth fund, hoping they would utilize their economic sector experience to more actively stimulate growth and job creation.