Alexander Wang seems to want to stick to style, not business.
The designer has announced that he is stepping down as CEO of his eponymous label, giving up the title to focus on his roles as chairman and creative director.
According to Business of Fashion, replacing him in the executive role is Lisa Gersh, a former executive at Gwyneth Paltrow’s Goop.
No more: Alexander Wang has announced that he is stepping down as CEO of his label
Now in: Replacing him in the role will be Lisa Gersh (left), who was CEO of Gwyneth Paltrow’s brand Goop from 2014 to 2016
Gersh, who had also been CEO of Martha Stewart Living Omnimedia, headed up Goop for two years but left the company in August of 2016. Naturally, Gwyneth is a fan.
‘Lisa is a visionary leader with unparalleled creativity and savvy,’ she said when Gersh signed on in 2014.
Wang, meanwhile, seems to have appointed her so his attention isn’t divided between the designing and business-building sides of his company. He has also named Stephanie Horton, formerly of Farfetch, as the new chief strategy officer.
‘I am honored and excited by the opportunity to help Alex shape this remarkable company,’ Gersh said.
‘The Alexander Wang brand has always represented style, innovation and an extraordinary standard of quality and excellence.
Star-studded: Kendall Jenner is pictured modeling in Wang’s most recent show at New York Fashion Week
‘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.’
Horton also added: ‘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.’
Wang has only been CEO of his brand since June of last year. He had been doing double-duty as creative director for Balenciaga, but left the other fashion house around that time.
‘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.
Big names: Kaia Gerber and Candice Swanepoel also walked in the show for the brand, which is beloved by many celebrities
‘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.
‘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.’
Wang’s brand is beloved by celebrities, including Gwyneth — who has included pieces from his collections in her Goop shop.
Other celebrity fans include Madonna, Rihanna, Gisele Bundchen, Kendall and Kylie Jenner, Kim Kardashian, Nicki Minaj, Taraji P. Henson, Kate Moss, and Kaia Gerber.