By  on October 5, 2010

After punching the clock with Betsey Johnson for nearly 30 years, the designer’s longtime confidante and chief executive officer Chantal Bacon has exited the company.

The news was made official Monday, just a month after Steve Madden Ltd. revealed it had taken over a $48.8 million defaulted loan to Betsey Johnson LLC. Bacon first teamed with the designer when she was part of Andy Warhol’s underground scene and has stayed by her side since those early days. However, as of April Bacon was no longer “actively involved” with the company and started to scale back her day-to-day involvement, she said via e-mail Monday. “Going forward, I will not be involved at all,” she wrote.

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