Alexander Wang is to relinquish the title of chief executive officer at his namesake label. The New York-based designer has been kept busy running both the business and creative sides of his empire since June 2016, but has now come to the decision to pass on the executive duties to someone else. Wang has named Lisa Gersh, head of Gwyneth Paltrow's Goop and Martha Stewart Living Omnimedia, as his company's new chief executive officer, which he took on after ending his three-year stint at esteemed fashion house Balenciaga.
Former chief marketing officer of Farfetch, Stephanie Horton, has also been brought on board in the newly created role of chief strategy officer and will help continue "pushing boundaries and extreme creativity" at the label.
"The appointment of CEO, and the addition of a CSO position, highlight our ongoing strategy of productivity and diversification," Wang explained in a statement. "In a rapidly changing retail environment, it's necessary for us to continually challenge the status quo. 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."
Gersh also shared some words, noting she is "honoured and excited" by the chance to help Wang build and shape his 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," she added.
Wang will remain creative director and chairman of his brand's board of directors. His choice to step down as CEO comes after his recent New York Fashion Week event in Brooklyn was heavily criticised. Fashionistas slammed him for staging three separate shows, the last of which left people waiting when it kicked off an hour late, and for giving more focus to creating a party atmosphere than the clothes themselves.