Following the announcement of its merger with competitor Yoox Group, it has been confirmed that Net-A-Porter founder Natalie Massenet will not be a part of the Board of Directors for the new group. Massenet was to serve as executive director of the new company, adding to her massive influence on the luxury fashion market. However, Yoox Group founder and CEO, Federico Marchetti, announced that Massenet will not be involved in the new entity and he will continue his role as CEO for the group.
The abrupt resignation comes after trouble between Massenet and Marchetti formed during initial merger negotiations. With sources close to Net-A-Porter commenting on the personality differences between the two.
With the deal expected to close this month, business analysts have commented saying it’s not surprising Massenet has made her move now.
