>> MODA OPERANDI —Pending board approval, Alessandra Facchinetti, as rumored, is out at Valentino.  Contrary to rumors, however, her replacement will not be Giambattista Valli — although many thought his collection yesterday looked like a tryout for the job — but rather Maria Grazia Chiuri and Pier Paolo Piccioli, the longtime accessories duo at Valentino.  Fachinetti is said to have clashed with management over design direction and production costs. [WWD]