Upheavals in Fashion Industry's CEO Ranks during Summer 2025

Fashion Industry Experiences CEO Shuffle Amid Challenges

The fashion industry is currently undergoing a significant transformation, with several high-profile CEO changes taking place in recent months.

Stephen Smith, the first chief executive from outside the company or founding family at a retailer, has announced his departure next spring after a decade in the post. Meanwhile, Jil Sander CEO Serge Brunschwig was succeeded by OTB CEO Ubaldo Minelli in August.

Prada Group CEO Andrea Guerra is serving in an interim capacity as the company prepares to close on its acquisition of Versace. J.Jill appointed a new CEO in March, while Brendan Hoffman returned as CEO of Vince Holding Corp. in February following an acquisition deal with Hoffman's P180 firm and ahead of a May delisting threat from the New York Stock Exchange.

HanesBrands CEO Steve Bratspis announced his plans to step down in June, six months before Gildan said it planned to acquire the company. Vera Bradley has announced the departure of its CEO and CFO, and has suspended guidance and created a strategy and transformation committee. L.L. Bean is currently searching for a new CEO.

LVMH has appointed Michael Burke as the chairman and CEO of LVMH Americas, and named new CEOs at Fendi, Dior, and Kenzo in April. Luca de Meo, who joins from car maker Renault, has been named as the new CEO of Kering.

In recent months, several other companies have also changed their CEOs. MTU Aero Engines appointed Dr. Johannes Bussmann as CEO starting September 1, 2025, succeeding Lars Wagner; Juwi GmbH will have Jost Backhaus as new CEO from October 1, 2025, replacing Carsten Bovenschen; Renault replaced Luca De Meo with François Provost as CEO from July 31, 2025; and the automotive supplier ZF announced the departure of CEO Holger Klein at the end of the month with a successor already named. Additionally, Taxefy and GitHub have new CEOs in the startup sector.

However, not all changes have been smooth. CEOs at Lanvin Group and Salvatore Ferragamo stepped down amid declining revenue at their respective firms and neither company has named a successor.

The fashion industry has also experienced creative director changes, tariffs announcements, and a luxury sector slowdown in the current year. Jennifer Ingraffea, formerly of Nike and The North Face, has been named as the new CEO of Pendleton. Depop named a permanent CEO in July, with Peter Semple taking the helm on an interim basis since May. Thom Browne CEO Rodrigo Bazan stepped down in July and will be succeeded by Nordstrom executive Sam Lobban in September. Phoenix named a new CEO for Express and Bonobos owner in February.

As the fashion industry continues to evolve, it will be interesting to see how these changes impact the industry in the coming months and years.