Giancarlo Di Risio, chief executive of Italian fashion house Versace, has resigned.
Di Risio has left the business after five years as chief executive drawing a line under weeks of speculation surrounding his departure.
Versace issued a statement two weeks ago denying press reports that Di Risio was set to leave the company.
Di Risio will stay on at the company while a replacement is found to ensure a smooth handover.
There are reports that Jil Sander chief execuive Gian Giacomo Ferraris is the front-runner to replace Di Risio. Ferraris is said to be disillusioned by his current position.