GUCCI CEO STEPS DOWN
In the biggest bombshell at Gucci since Tom and Dom bid adieu in 2003, Mark Lee is stepping down as president and chief executive officer of the Italian luxury powerhouse, effective Dec. 31.
One of the industry’s most admired executives — who grew Gucci revenues 46 percent during his four-year tenure but saw its rise wobble recently — Lee’s impending departure set off a major executive reshuffle at parent Gucci Group on Tuesday.
The group said Lee will be succeeded by Bottega Veneta president and ceo Patrizio di Marco, effective Jan. 1. In turn, Marco Bizzari, ceo at Stella McCartney, will succeed di Marco at Bottega.
Lee characterized the nonrenewal of his contract as a “personal decision to rebalance my life” and to spend more time in New York City. He suggested he would not immediately jump into another position.
WWD 17/09/08
3 years ago • Notes