Fashion Icon Alexander Wang steps down from his position of CEO of his namesake company, Alexander Wang INC. The 34 year- old designer announced the decision on Monday, October 2, after taking on the role in June 2016. Wang was the Creative Director of the fashion empire Balenciaga for three years, before the announcement of his departure from the company. Wang announced that he is stepping down to focus more on his position as Creative Director and Chairman of the board.
“In my year as CEO I’ve been able to reflect and assess the strengths and opportunities of the company and set the stage for future growth,” said Wang.
Lisa Gersh, formerly of GOOP, Gwyneth Paltrow– founded lifestyle brand, will be succeeded Wang as the Chief Executive Officer of the company. Gersh, who also been CEO of Martha Stewart Living Omnimedia, left GOOP in 2016 after two years.
“I am honored and excited by the opportunity to help Alex shape this remarkable company,” Gersh said in a statement. “The Alexander Wang brand has always represented style, innovation and an extraordinary standard of quality and excellence. I’m looking forward to working with Alex and the rest of the team to build on his foundation, and to continue to delight customers with our products and creative vision.”
Along with stepping down from his position, Wang has also created a new Chief Strategy Officer role. A position in which he has appointed to Stephanie Horton, formerly of Farfetch, an online fashion retail platform. Horton also released a statement of her joining the fashion house.
“Pushing boundaries and extreme creativity has always been at the core of the Alexander Wang business. I look forward to working with the team to expand these capabilities, as well as looking outside of traditional channels and spectrums, to develop new and innovative growth opportunities for the brand.”
The designer will remain the Creative director and Chairman of the board. Joining him on the board of directors will be Gersh, along with former Condé Nast executive Tom Florio and former News Corp and AOL executive Jonathan Miller. “The appointment of CEO and the addition of a CSO position highlight our ongoing strategy of productivity and diversification,’ the designer explained. ‘In a rapidly changing retail environment, it’s necessary for us to continually challenge the status quo. Lisa and Stephanie’s diverse backgrounds in the media, lifestyle, and digital landscape will help us continue to position the business to expand into new categories and territories.”