Valentino CEO Jacopo Venturini has resigned after five years for "personal reasons."

ROME – Valentino CEO Jacopo Venturini has resigned after five years at the helm of the Roman fashion house and weeks of rumors. The manager had taken a break for " personal reasons " and has now reached an agreement with the fashion house. Alessandro Michele , who will take over as creative director in March 2024, will present his next Spring 2026 collection on the Paris runway in October.

Venturini's career at Gucci and Valentino

Venturini became CEO of Valentino in June 2020, replacing Stefano Sassi, who had been at the helm since 2006. This was a return for the manager. Before joining Gucci as vice president of merchandising and global markets from 2015 to 2019, he worked at the Roman high fashion house from 2000 to 2004 as head of the men's and women's apparel brand.

Valentino, the agreement with Kering

The company, acquired in 2012 by the Qatari investment group Mayhoola , which has now sold a 30% stake to Kering with a full put option to the French giant by 2028, has not commented on the resignation. The new CEO, in addition to having to deal with a 2% decline in sales to €1.31 billion in 2024 and a 22% drop in EBITDA, will also have to oversee the transition to Kering , which will have to be confirmed by the French group's new CEO , Luca de Meo , who left Renault in June.