Net-a-Porter founder Natalie Massenet has resigned as executive chairman.
Massenet’s departure follows the merger between Net-a-Porter and Italian etailer Yoox, which was agreed in March and approved by shareholders in July. It is expected to complete in October this year.
A statement from Yoox confirmed that Massenet will not be a member of the board of directors of the merged company, Yoox Net-a-Porter Group.
It was previously stated that it would be led by Yoox founder Federico Marchetti as chief executive, while Massenet would serve as executive chairman.
“After 15 extraordinary and exceptional years at The Net-a-Porter Group, the completion of the merger with Yoox Group is the right time for me to move on to explore new ideas and opportunities,” Massenet said.
“The business I started in 2000 could not be in better shape today. Having joined forces with Yoox Group, the company will be bigger, stronger and superbly well positioned under Federico’s leadership to lead the industry and create the future of fashion,” she added.
“As for my own future, my entrepreneurial drive is as strong today as it always has been, and my passion for innovation will continue to be my greatest guide in business.”
Massenet, a former fashion editor of Tatler, founded Net-a-Porter in 2000.