| Diesel’s Top Management Reorganization: Eraldo Poletto Named Global CEO |
Diesel, an OTB Group’s brand, today announced a top management reorganization. Eraldo Poletto will be appointed Global CEO of the brand.
Massimo Piombini, upon fulfilling the task entrusted to him by Founder and Chairman Renzo Rosso and the Group’s Board of Directors to design the strategy and repositioning plan for Diesel, will hand over the helm to Eraldo Poletto, who will lead the company from 1 July 2022.
Mr. Poletto, who currently holds the position of DIESEL CEO for North America, has extensive knowledge of the company and has already been instrumental in developing Diesel’s new market strategy. He has 30 years of experience in the luxury and retail industry and has held senior positions throughout his career, including CEO and Brand President at footwear brand Stuart Weitzman (Tapestry Group) and CEO at Salvatore Ferragamo and Furla, where he drove the global growth of the brands.
Donald Kohler, a seasoned executive with considerable knowledge of the international fashion industry who has held key positions such as President of Burberry Americas, Chief Executive Officer Americas & Chief Retail Officer at Ferragamo and President of Ann Taylor Group, has been appointed to succeed Eraldo Poletto as Diesel CEO for North America.
Diesel extends its sincere thanks to Massimo Piombini and wishes Eraldo Poletto and Donald Kohler the best of luck as they navigate these exciting times the company has been experiencing since creative director Glenn Martens joined Diesel.
Calvin Klein Appoints Jonathan Bottomley as Global Chief Marketing Officer
Calvin Klein announced the appointment of Jonathan Bottomley as Global Chief Marketing Officer, Effective June 6, 2022.
In this role, he will report to Trish Donnelly, CEO, PVH Americas & Calvin Klein Global, and will oversee all aspects of the Consumer Marketing Organization.
Mr. Bottomley joins Calvin Klein from Boll & Branch, an L-Catterton portfolio company, where he served as CMO. Previously, he served as Global CMO for Ralph Lauren, where he led all brand strategy, marketing, creative and consumer experience activities across channels and geographies. Mr. Bottomley has also been Chief Strategy Officer for some of the world’s top agencies, including BBH in London and Virtue, the creative arm of Vice Media in New York.
Trish Donnelly, CEO, PVH Americas & Calvin Klein Global, said, “Jonathan is a highly experienced and transformational marketing leader. He has a proven track record in building global teams equipped to adapt to the opportunities of a digitally-driven marketing mix, and the ability to marry commercial and aspirational elements of brands. Jonathan’s leadership will help us win with the consumer and increase our brand relevance even further by leaning into the strengths of the Calvin Klein brand.”
Mr. Bottomley brings over 20 years of global experience and deep expertise across all aspects of marketing – strategy, consumer analytics, digital commerce, full funnel media, communications, as well as developing culturally-relevant, cut-through creative.
World No. 1 Women’s Amateur Golfer Rose Zhang Becomes First Student-Athlete To Sign Nil Endorsement Agreement With Adidas
Rose Zhang enters the U.S. Women’s Open this week as the best female amateur golfer in the world, having recently added “National Champion” to her growing list of achievements after winning both the individual and team titles at the 2022 NCAA D1 Women’s Golf Championship.
Today, she makes history again by becoming the first student-athlete to join team adidas by entering into a Name, Image and Likeness endorsement agreement with the brand. Earlier this year, adidas announced the first wide-sweeping, equitable and inclusive NIL network reaching more than 50,000 eligible student-athletes across 23 sports and all genders at 109 D1 universities.
This announcement moves the brand into the next phase of its NIL program as adidas begins to welcome individual student-athletes as brand ambassadors, the first group of whom will be women competing in multiple different sports. As part of her multi-year contract with adidas, Rose will proudly represent the 3-Stripes both on and off the course in all competition, training, and other play outside her university team obligations. She will also feature in brand marketing campaigns promoting the newest products in golf apparel and footwear.
“adidas has been a major part of some of my biggest wins as an amateur, so this is an exciting moment for me,” said Zhang. “I’m most comfortable wearing the 3-Stripes on the course and can’t wait for what’s ahead.”
For more than two years, Zhang has held the top spot in women’s amateur golf. She’s a two-time AJGA Player of the Year (2019, 2020) and has represented the United States on the Junior Solheim Cup (2017, 2019), Junior Ryder Cup (2018) and Curtis Cup (2021) teams, all of which were victorious. Perhaps her biggest triumph to date, at just 17 years old, Rose became the first woman in history to win the U.S. Women’s Amateur (2020) before winning the U.S. Girls’ Junior (2021).
“We are happy to officially welcome Rose to the adidas family,” said Rupert Campbell, president of adidas North America. “Rose embodies a winning Impossible is Nothing attitude on the golf course and we’re excited to start this new chapter of working with student-athletes.”
This week marks Rose’s fourth consecutive start at the U.S. Women’s Open , having qualified as an amateur for every championship since 2019.
“Rose is an extraordinary athlete , a class-act both on and off the golf course and is determined to be the best in the world every single day,” said Tim McNulty, global director of sports marketing, adidas Golf. “Having Rose join team adidas is something we’ve been looking forward to for quite some time, and we look forward to supporting her as she continues to make her mark on women’s golf around the world.”
While Rose is the first student-athlete to sign a NIL endorsement agreement with adidas, this is just the start. The brand will share more soon about the first wave of Rose’s fellow individual women student-athletes who are joining team adidas and how adidas is investing in equality initiatives aimed at increasing awareness and representation to make sport accessible to all.
Karen Katz to become interim CEO at Intermix
Beginning June 7th, Karen Katz, Intermix Board Member, will become interim CEO. As the former President and CEO of the Neiman Marcus Group, Karen has held numerous executive roles, is an inspirational leader, and has deep experience in multi-brand retail, ecommerce, and large-scale transformation. Her unique perspective will enhance plans for Intermix’s growth and best-in-class customer experience, positioning the brand to shape the future of multi-brand retail.
“We are thrilled to have Karen step into the role as interim CEO,” says Keoni Schwartz, Co-Founder and Managing Director of Altamont Capital Partners. “I want to thank Jyothi for her leadership at Intermix. Her strategic vision to fully integrate the stores with the e-commerce business positioned the brand to be a leading omni-channel fashion business for women.”
“It’s been an honor to lead the talented team at Intermix for the past eight years,” says Jyothi Rao, Intermix’s CEO. “I am proud of the brand we have built, one that curates the most exciting mix of established and emerging designers while using our platform to advocate for issues around female empowerment, diversity and inclusion, and sustainability. I am confident that with Karen and Altamont Capital Partners paving the way, they will position the brand for continued success.”
“Over the past eight years, Jyothi has crafted a meaningful vision for the brand and built a great team to lead Intermix through its next chapter,” says Karen Katz, Intermix Board Member. “Anyone who has had the pleasure of working closely with Jyothi has benefited from her experience, knowledge of the industry, and passion for the customer. I am looking forward to partnering with Altamont Capital Partners and this committed Intermix team to continue the momentum and help Intermix deliver the best product and omnichannel experience to its current and future customers. In working with many Private Equity firms throughout my career, the team at ACP is completely aligned on our focus in delivering a great customer experience and growing shareholder value.”
Karen Katz is the Former President and CEO of the Neiman Marcus Group, where she led the company through its digital transformation. After 8 years as CEO and 33 years with the company in a variety of positions, she retired in 2018. Today, Karen serves on 3 Public Company Boards: Humana Healthcare, Under Armour, and The Real Real.
Mariko Ichikawa announced as Merchandising Director at The Tower
As of December 2021, Hearst Luxury Collection—the home of ELLE, Esquire, Harper’s BAZAAR, and Town & Country—announced the forthcoming launch of The Tower: an integrated, contextual e-commerce marketplace made up of four individual stores with one cart, one platform, and shared back-end technology from media brands. Fashion and retail industry veteran Ken Downing was appointed Chief Brand Officer, Hearst Luxury Collection Commerce, to oversee the vision, creation and marketing strategy of the editor-infused digital retail shopping destination. The announcement was made by Hearst Magazines Chief Business Officer, Kristen O’Hara and HLC Senior Vice President and Publishing Director, Carol Smith.
“Within a few years, digital will be the dominant channel for luxury purchases. Companies that deliver content, curation and customers to luxury brands will lead this commerce transformation. The Hearst Luxury Collection is poised to do just that. With Ken’s leadership, deep understanding of the luxury consumer and ability to identify trends and items that excite them most will turn our vision for the Tower into a reality,” said O’Hara.
“We are creating a truly bespoke shopping destination for our audience, one that authentically reflects our rich portfolio of luxury brands,” Smith said.
With over three decades of experience in luxury retailing, Downing will work closely with the editorial teams to create virtual, multi-floor shopping experiences to bring each magazine’s individual DNA to life. Each brand store will live on its brand URL with a distinct point-of-view and design, but shoppers will be able to navigate between brands with cross-pollinated content and top level navigation.
Downing’s latest addition to the team is Mariko Ichikawa as merchandising director.
Agnelli’s Exor Announced Hermès CEO Axel Dumas as Board Member & Appoints Ajay Banga As Chairman
Exor, the diversified holding company controlled by the Agnelli family, announced Mr. Axel Dumas, Chief Executive Officer of Hermès International, has been appointed non-executive director for a term of one year. Since June 2013 Axel Dumas has been the Chief Executive Officer of Hermès International. Owing to other commitments Mr. Joseph Bae will step down as of today from the Exor Board and as a member of the Compensation and Nominating Committee.
John Elkann said: “We extend our sincere thanks to Joseph Bae for his contribution to our Board and we warmly welcome Axel Dumas. Axel is the sixth-generation leader of a family-owned company that is the very epitome of excellence and tradition, and is also renowned for its success in seeking renewal and change.”
Exor’s remuneration policy for directors was amended to better align it with long-term performance based value creation, as recommended by shareholders and other stakeholders. Within the framework of the amended remuneration policy a new performance share unit plan for executive directors was also approved.The AGM also authorized the Board of Directors to repurchase the Company’s shares on the market for a maximum amount of €500,000,000 and for 18 months from the date of the AGM, all in accordance with Dutch law and by the Company’s Articles of Association. The AGM further authorized the Board of Directors to cancel any ordinary shares held, or to be held, as treasury stock, in order to optimise the capital structure of the Company and to create more flexibility to manage its capital.
Exor also announced that the Company’s Board of Directors resolved to separate the roles of Chairman and Chief Executive Officer.
Ajay Banga has been appointed Chairman, Senior Non-Executive Director of the Board with immediate effect. Mr. Banga has been a member of the Company’s Board of Directors since May 2021 and has served most recently as Chair of Exor’s Environmental, Social and Corporate Governance Committee. John Elkann will continue to ensure the executive leadership of the Company in his role as Chief Executive Officer. Previously both roles have been covered by John Elkann, scion of the Agnelli family.
Mr. Banga is recognised as one of the world’s most experienced business leaders, with particular expertise in the fields of data, technology, financial services and consumer goods. He served for more than a decade as President and CEO of the global data and payments company Mastercard Inc., leading that company through a strategic, technological and cultural transformation. He has also served on the Boards of Kraft Foods and Dow Inc.
Today, he is Vice Chairman of General Atlantic, a leading global private equity firm, and is also an independent director of Temasek, the Singapore-based global investment company. Prior to joining Mastercard, Mr. Banga was CEO of Citigroup Asia Pacific, the culmination of his thirteen years in a range of senior roles at one of the world’s leading global financial institutions. He started his career at the global food and beverage company Nestlé, in India.
Commenting on Mr. Banga’s appointment, John Elkann, Exor’s Chief Executive Officer said: “As a member of our Board, Ajay shares our purpose, which is to build great companies. His additional responsibility as Chairman will strengthen Exor with the experience and wisdom he brings. This will also align Exor’s governance model with that of our companies, allowing me to concentrate on our next phase of development”.
Ajay Banga said: “Our world is in a rapid change cycle on so many fronts and John and the Exor team continue to transform our company for its future. This is an exciting time to be a part of Exor’s journey and I am delighted at the opportunity to work closely with John and my Board colleagues.”