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Versace, Cavalli May Be Shopping for New Chief Executives

Both Italian fashion houses reportedly seeking new leadership

Published

15 years ago

June 5, 2009

VMSD Staff

After five years as Versace’s chief executive, Giancarlo di Risio is expected to resign his post at today’s board meeting in Milan. Speculation about di Risio’s tenure has been ongoing since mid-May. Though some sources contend that the 13 percent decline in first-quarter revenues chaffed (despite the fact that the company posted a positive net result), Italian media cited differences with Donatella Versace, the late founder’s sister and currently creative director, as one of the major reasons for the change at the top.

The New York Times reports that the house of Cavalli may also be interviewing. Investment fund Clessidra SGR bought 30 percent of the company earlier this week. According to the story, Clessidra likely will seek a new chief executive for the Florentine firm.

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