Alexander Wang CEO Lisa Gersh steps down

Lisa Gersh, CEO of Alexander Wang is parting ways with the company after serving the business for just over one year, reports Business of Fashion . Alexander Wang will assume the position vacated by Gersh till her replacement is found.

Gersh was roped in from Gwyneth Paltrow lifestyle project Goop, where she also served as CEO from 2014 to 2016, to shoulder the chief executive’s responsibilities. Gersh has previously worked as CEO and president of Martha Stewart Living Omnimedia from 2011 to 2013 and is member of Hasbro’s board of directors. She replaced Wang, who himself had stepped into the CEO’s position in June 2016. He is also creative director and chairman of the company’s board, the positions he continues to retain.

The report added that Gersh was hired along with some other key senior executive appointments to take the business forward. The company had hired Stephanie Horton, who left FarFetch to become the company’s chief strategy officer, while Tory Burch CEO Brigitte Kleine, Tom Florio and Jonathan Miller were appointed to the company’s board of directors.