Fashion News: Maureen Chiquet, CEO Of Chanel Is Stepping Down

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maureen chiquet

After 9 years, Maureen Chiquet, global CEO of Chanel is stepping down.

Chanel has announced that the global CEO is stepping down from her post at the end of this month.

The private French company owned by the billionaire Wertheimer family said Ms. Chiquetis departing due to a difference of opinion on the strategic direction of the French luxury house.

A spokesman also said that Chanel‘s chairman Alain Wertheimer, the grandson of the original business partner of the founder, Gabrielle Chanel, would take over the operational management of the company during the search for a new chief executive.

During her nine years as Global CEO, Maureen Chiquet oversaw the successful international expansion of the House of Chanel, enhanced its luxury positioning and timeless image, and grew the business in all categories. She also established a truly global organization and enhanced the culture and leadership of the company,” the company statement said in a statement.

“Chanel is grateful for what Maureen has done to bring Chanel into a new era of its development, in close collaboration with the leadership team, and wishes her continued success.”

Prior of joining Chanel in 2007, the 52-year-old American-born worked under Mickey Drexler at Gap Inc.

Chanel presented its spring haute couture show at the Grand Palais in Paris yesterday.

Photos Credit: Timothy A. Clary/Agence France-Presse — Getty Images

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Donovan

Donovan is the CEO and Editor-In-Chief of www.dmfashionbook.com. For all general inquiries please email don@dmfashionbook.com Donovan has a BA in Journalism & Media Studies from the prestigious Rutgers University. He's currently studying entertainment and fashion law.