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Power Moves | YNAP CEO Joins Giorgio Armani Board, Coty Names New CEO

This week Federico Marchetti was appointed non-executive director to the luxury fashion house’s board, while Coty appoints Sue Y. Nabi as its chief executive.
Federico Marchetti, CEO of Yoox Net-a-Porter Group | Source: Getty Images

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

Yoox Net-a-Porter CEO joins Armani board

Giorgio Armani announced Federico Marchetti, chief executive of the Richemont-owned luxury e-commerce retailer Yoox Net-a-Porter Group, has been appointed non-executive director on the luxury fashion house’s board.

Coty names new CEO

Coty, which recently bought a 20 percent stake in Kim Kardashian West's makeup brand KKW for $200 million, named L'Oréal veteran Sue Y. Nabi its chief executive, effective September 1. The appointment happened just one month after the beauty giant named Peter Harf its chief executive. (Hart will now be the company's executive chairman.) Nabi is also co-founder of the beauty brand Orveda.

LVMH-owned Moynat appoints creative director

Nicholas Knightly, who most recently served as Louis Vuitton's director of design for leather goods, is moving to Moynat. Knightly replaces Ramesh Nair and will oversee design at the label, best known for its handbag and luggage. 

Richemont announces new senior executive committee member

Former Givenchy Chief Executive Philippe Fortunato, who was recently named head of Richemont's fashion and accessories division, will also be joining the luxury conglomerate's senior executive committee, effective September 1. Other senior executive committee board members include Richemont Chief Executive Jérôme Lambert, Chief Executive and President of Cartier Cyrille Vigneron and Head of Richemont's specialist watchmakers' distribution Emmanuel Perrin.

Adidas head of HR departs

The sportswear giant announced its Global Head of Human Resources Karen Parkin will be exiting the company. The move follows after The Wall Street Journal reported that employees called on the board to investigate Parkin's approach to handling racial issues in the workplace. Parkin has also stepped down from the executive board after 23 years with the company. Adidas Chief Executive Kasper Rorsted will assume responsibility for global human resources in the interim period until Parkin's successor is announced.

Hugo Boss taps new chief sales officer from Tommy Hilfiger

Former PVH Europe Chief Commercial Officer Oliver Timm, who oversaw both Tommy Hilfiger and Calvin Klein in the region, has been named the new chief sales officer of the German suit maker, effective January 1, 2021. Timm will join his former boss Daniel Grieder at the company. Grieder was recently named chief executive of the German suit maker after several years at PVH.

Lazada appoints new CEO

Southeast Asian e-commerce group Lazada, which is owned by Chinese tech giant Alibaba, has named former Lazada Co-President and Head of its Indonesia operations Chun Li as its chief executive. Li replaces former Chief Executive and Co-Founder Pierre Poignant who is now the special assistant to Alibaba Group Chairman and Chief Executive Daniel Zheng.

Cosmopolitan names new weekend editor

Cosmopolitan has appointed Paulina Jayne Isaac weekend editor, effective immediately. Isaac joins the magazine after freelancing several years as a writer and editor for Glamour, Bustle and StyleCaster.

Pinduoduo founder steps down, new CEO named

Pinduoduo, one of China’s biggest e-commerce platforms, announced its founder Colin Huang has relinquished his role as chief executive but will assume the role of chairman, focussing his efforts on the company’s longterm strategy. Stepping into the breach as the new chief executive is the tech giant’s Chief Technology Officer and founding member Chen Lei.  

Deckers Brands adds to board of directors

The company behind Uggs, Teva, Sanuk and Hoka One One has appointed former Chief Executive of Tapestry Inc. Victor Luis to its board of directors. The move follows the resignation of James Quinn, who has been a member of the Deckers Brands board since 2011. 

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