Paolo Riva is stepping down from Victoria Beckham for personal reasons and with immediate effect, just ten months after joining the company as CEO. Chairman Ralph Toledano will manage the fashion label while it looks for a new chief executive.
“It has been a real pleasure working with Paolo, and on behalf of the board, I would like to thank him for his contribution”, said Toledano in a statement. “I look forward to continuing to drive and implement the strategy for the brand with Victoria and the team”. Riva added in the same statement: “I am proud of what I have accomplished with the team and wish the company great success for the future”.
Riva, whose resume includes senior roles at Valentino, Tory Burch and Salvatore Ferragamo, joined Victoria Beckham’s label as it celebrated its tenth anniversary. He was tasked with overseeing the brand’s expansion plans. In December 2018, Victoria Beckham raised 30 million pounds from NEO Investment Partners to help it enhance both its digital and physical retail presence, and launch new product categories.
Victoria Beckham took the opportunity to also announce the promotion of Product Director Marie Leblanc de Reynies to the newly created role of Managing Director of Brand and Product and the promotion of Pablo Sande to the position of Chief Financial and Legal Officer.