Alexander Wang steps down as CEO of his company

Alexander Wang has stepped down from his role as CEO of his namesake brand.

According to the Business of Fashion, the designer has appointed former Goop and Martha Stewart Omnimedia executive Lisa Gerth to the position and Stephanie Horton, the former Farfetch chief marketing officer, has been appointed chief strategy officer. The decision is part of a re-organization of the company that allows Wang to focus on his position as creative director while also continuing to be chairman of the company's board of directors.

'The appointment of CEO, and the addition of a CSO position, highlight our ongoing strategy of productivity and diversification. In a rapidly changing retail environment, it's necessary for us to continually challenge the status quo,' Wang said in a statement. '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.'

'I am honoured and excited by the opportunity to help Alex shape this remarkable company. 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,' Lisa Gerth said in a statement.

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