WWD.com/beauty-industry-news/financial/chanel-s-veronique-morali-resigns-482805/

PARIS — Véronique Morali, named president of Chanel SAS in March, is already exiting the French fashion house, WWD has learned.

A Chanel spokeswoman said Friday that Morali resigned to pursue “personal projects,” effective at the end of this month. Her successor has yet to be named and the spokeswoman said Chanel was “working on its future organization.”

Morali, 48, was a surprise choice to succeed Françoise Montenay, one of France’s most admired fashion executives who had long overseen Chanel’s business in continental Europe. Montenay is now president of Chanel’s supervisory board. Last year, Montenay also took on the presidency of the French luxury goods trade association Comité Colbert.

Morali came from Fimalac SA, a financial services firm, where she had worked since 1990, most recently as chief operating officer.

The change at Chanel comes on the heels of management shake-ups at Christian Dior Inc. and Giorgio Armani Corp.

Chanel’s top management has been in flux since last year, when Maureen Chiquet was named global chief executive officer, effective Jan. 1 of this year. This global ceo position is a new one, and Chiquet oversees and coordinates all company activities worldwide.

This story first appeared in the September 24, 2007 issue of WWD.  Subscribe Today.