Moschino’s CEO leaves the traditional fashion house. Stock soars.

As confirmed by the brand’s owner Aeffe (AEF:MI) , Chief Executive Officer Alessandro Varisco, is officially leaving the traditional Italian fashion house to presumably join Twin-Set Simona Barbieri.

The Italian, who joined Moschino in 2009, is leaving his position on June 30th to formally hand over his seat ad interim to Massimo Ferretti and Marcello Tassinari, the group’s executive president respectively CFO. Ferreit, in an interview with WWD confirmed:” We thank Alessandro Varisco for his profuse contribution over the years and for the goals he reached. Looking to the future, the company is galvanized by the growth path it is on and it is focused on consolidating its success at the international level.”

Analysts at EDAQS Alpha Research have marked this position switch as a negative event, due to the unexpected change at a time where the Italian brand has achieved a considerable growth.
Varisco, who – according to his LinkedIn Profile – has previously worked for Gianfranco Ferré, may leave a gap that needs to be filled, although the group’s stock has reacted positively on this news (+2%).