- Marjorie van Elven
Paolo Riva is stepping down from Victoria Beckham for personal reasons
and with immediate effect, just ten months after joining the company as
CEO, WWD reports. Chairman Ralph Toledano will manage the fashion label
while it looks for a new chief executive. Quoted by the publication,
Toledano said he will take “all the time needed” to find a suitable person
for the position.
“It has been a real pleasure working with Paolo, and on behalf of the
board, I would like to thank him for his contribution”, added Toledano. “I
look forward to continuing to drive and implement the strategy for the
brand with Victoria and the team”.
Riva, whose resume includes senior roles at Valentino, Tory Burch and
Salvatore Ferragamo, joined Victoria Beckham’s label as it celebrated its
tenth year 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.