MILAN, Italy — Ippolito Etro is stepping down from his role as general manager of Etro SpA, his family's company, effective April 1st, to "pursue new business horizons," according to his brother Jacopo, Etro's global communications vice president.

“The Etro Group sincerely acknowledges Ippolito Etro’s worth and the profitable job he has performed over the years which has allowed us to reach important goals in Italy and abroad,” Jacopo Etro said in a statement.

Their father, Gerolamo Etro, currently president of Etro, will take on Ippolito Etro's duties until a successor is appointed.