After Much Turmoil with Donatella, Versace CEO to Resign Friday

fashionologie — Thu, 04 Jun 2009 15:30:22 PDT

>> After weeks of speculation, Versace CEO Giancarlo Di Risio, who has been with the company since 2004, is expected to hand in his resignation at a board meeting on Friday. Despite the fact that Di Risio worked closely with Donatella Versace to make her collections less flashy and returned the house to profit, the company has been under strain from declining sales, and its board recently approved a restructuring plan which effectively sidelines the chief executive.

Di Risio is said to have clashed with Donatella on a number of levels - he disagreed with her lavish lifestyle, according to recent articles in the Italian media, and pushed her to simplify her designs so that the house could introduce accessories and clothes with lower prices.

Donatella wanted to spend $140K a day on Mario Testino, Di Risio didn't. »