Valentino's Shift: CEO Jacopo Venturini Steps Down

Jacopo Venturini has resigned as CEO of Valentino. The decision was mutual due to personal reasons. Despite his exit, creative director Alessandro Michele remains in position. Valentino, partially owned by Kering, experienced financial setbacks last year. Reports of selling the brand by shareholders have been denied.

Valentino CEO Jacopo Venturini has resigned from his position at the iconic Italian luxury house, according to reports from Women's Wear Daily on Thursday.

The departure, described as a mutual decision for personal reasons, comes after Valentino announced Venturini's sick leave in June amidst declining revenue and profit in 2022. Creative Director Alessandro Michele, notable for his transition from Gucci to Valentino last March, will remain with the company, Women's Wear Daily confirmed via sources.

Valentino, in which French luxury giant Kering acquired a 30% stake for 1.7 billion euros earlier this year, faced speculation over ownership changes that were refuted by Qatari shareholder Mayhoola. Despite a high-profile change, Kering and Mayhoola assured commitment to their investment until 2028.

(With inputs from agencies.)