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Power Moves | Abercrombie CEO Out, Gucci Changes Management, Cerruti Names CEO

BoF compiles the most important professional moves of the week.
Mike Jeffries | Source: Associated Press
By
  • Kati Chitrakorn

LONDON, United Kingdom – BoF compiles the most important professional moves of the week.

Michael Jeffries Exits Abercrombie & Fitch
Abercrombie & Fitch's longtime chief executive Michael Jeffries is retiring, effective immediately. Jeffries, 70, who also retires from the brand's board of directors, has come under fire as the once-hip Abercrombie and Hollister clothing lines have lost their appeal to teenage shoppers, leading to declining sales and tumbling profits. Until a new CEO is appointed, the New Albany, Ohio-based company said that it will be overseen by Arthur Martinez, who moves from non-executive chairman to executive chairman with Jeffries' departure.

Frida Giannini, Patrizio di Marco Leave Gucci
Creative director Frida Giannini and chief executive Patrizio di Marco have both stepped down from their roles at Gucci, according to its parent company, the French group Kering. The departures come following a year of declining sales at the luxury Italian label, which makes up half of Kering's revenues. The group named luxury couture and leather goods division head Marco Bizzarri as the new CEO, effective January. Di Marco led the brand for almost six years, while Giannini has held her post for eight years. According to Kering, her replacement will be appointed later.

Cerruti Names CEO
After three years as chief executive of Cerruti, Catherine Vautrin is leaving the company. The French executive decided to step down in order "to pursue personal projects," the brand said in a statement. Her successor is Richard Cohen, chief executive of the Hong Kong-based Trinity Group, who joined Trinity last May and brings 40 years of experience in the apparel business.

TAG Heuer CEO Quits
Stéphane Linder, the president and chief executive of Switzerland-based watch company TAG Heuer, has announced his resignation after 18 months at the post. Having worked at the brand for 21 years, Linder moved into his current position after previous CEO Jean-Christophe Babin relocated to sibling brand Bulgari. Jean-Claude Biver, who was appointed head of LVMH's watch business in March, will take over as TAG Heuer's interim CEO.

Dazed Appoints Beauty Editor
British publication Dazed and Confused has signed on Yadim Carranza as its new beauty editor. Known simply as Yadim, the Californian-born makeup artist was tapped by beauty brand Maybelline in April as their global makeup artist, and his portfolio includes working for brands such as Dior, Kenzo and Balmain.

To explore exciting fashion industry career opportunities, visit BoF Careers, the global marketplace for fashion talent.

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