Victoria Beckham CEO steps down suddenly
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Victoria Beckham CEO Paolo Riva has resigned from the company, citing personal reasons.
Victoria Beckham, the fashion label bearing the name of its founder, the one-time Spice Girl and model, has two stores – in Hong Kong and London.
Riva took up his role only last September. He will be replaced with immediate effect by chairman Ralph Toledano, who joined the business in March last year.
“I am proud of what I have accomplished with the team and wish the company great success for the future,” said Riva.
“It has been a real pleasure working with Paolo, and on behalf of the board, I would like to thank him for his contribution,” Toledano said, announcing the change. “I look forward to continuing to drive and implement the strategy for the brand with Victoria and the team.”
Product director Marie Leblanc de Reynies has been appointed to the new role of MD of brand and product and Pablo Sande, who has previously held roles with Salvatore Ferragamo and Burberry, as CFO and legal officer.
While Victoria Beckham has earned critical acclaim it is understood the brand has yet to make a profit with Beckham and her husband David, the high-profile businessman and former footballer, continuing to fund the label.
Questions & Answers
Q.Who will take over as CEO of Victoria Beckham following Paolo Riva's departure?
Who will take over as CEO of Victoria Beckham following Paolo Riva's departure?
Chairman Ralph Toledano will replace Paolo Riva as CEO with immediate effect. Toledano joined the business in March last year and will now lead the company and implement the brand's strategy with Victoria and the team.
Q.How long was Paolo Riva in the CEO role at Victoria Beckham?
How long was Paolo Riva in the CEO role at Victoria Beckham?
Paolo Riva was CEO for a relatively short period. He took up his role only last September, meaning he was in the position for less than a year before his resignation was announced due to personal reasons.
Q.Has the Victoria Beckham fashion label been profitable since its inception?
Has the Victoria Beckham fashion label been profitable since its inception?
No, the article indicates that the brand has not yet made a profit. It is understood that Victoria and David Beckham continue to fund the label, despite its critical acclaim in the fashion industry.
Q.What new appointments have been made within the Victoria Beckham company structure?
What new appointments have been made within the Victoria Beckham company structure?
Marie Leblanc de Reynies has been appointed as MD of brand and product, a new role. Pablo Sande has also been hired as CFO and legal officer, bringing experience from Salvatore Ferragamo and Burberry.
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