CEO of Diane von Furstenberg Resigns
Diane von Furstenberg announced yesterday that CEO Paolo Riva is resigning, effective immediately. Riva was hired in April 2015 after a multiyear search for the brand's first chief executive. According to sources, the exit was Riva’s decision. The company had no comment regarding immediate plans to replace Riva.
Total Retail’s Take: The exit of Riva is a bit surprising, especially since it took Diane von Furstenberg, the company’s founder, longer than expected to hire Riva because she wanted to find the right person who could eventually become her “heir,” according to sources. It will be interesting to see what Riva’s next step is, as well as whether the retailer will name a CEO to replace her or continue with von Furstenberg solely at the helm.