In a brief statement, Betty Blue, the company behind the Elisabetta Franchi brand, announced on Monday September 27 that the shareholders’ meeting had resolved to terminate the appointment of CEO Gabriele Maggio with immediate effect.

“The decision, taken in the exclusive interest of the company, aims to ensure continuity of management, proper operations, and the company’s future strategic development,” the statement read, offering no further explanation or details as to who will replace Maggio.

The executive took on the role in February last year, leaving his position as chairman and CEO of the British fashion label Stella McCartney. Previously, Maggio gained experience in the luxury sector at houses such as Giorgio Armani, Prada, Moschino, Bottega Veneta, and Gucci.

Changes at the top continue at the Bologna-based company, which at the end of September also announced the end of Marco Bizzarri’s term, Gucci’s former CEO, as chairman of the Board of Directors, a role he had held since April 2024 and in which he was replaced by founder Elisabetta Franchi.