NEW YORK — Susan Posen, Zac Posen’s mother and the designer’s longtime business partner, is stepping aside to pursue other interests.
This story first appeared in the October 20, 2010 issue of WWD. Subscribe Today.
Her departure comes on the heels of last month’s news that Susan Davidson added the title of chief executive officer of Zac Posen to her duties as ceo of Scoop NYC. Both companies are owned by Ron Burkle’s The Yucaipa Cos.
“It has been nearly 10 years since Zac, Alexandra and I founded Zac Posen,” Susan Posen said via e-mail on Tuesday. “During that time I have had the privilege to work — both within the company itself and in the larger fashion arena — with an amazing group of people. The company is now poised for a new phase of growth, and I have decided it is time to step aside from my current role as acting ceo and pursue other interests.”
She added that while she is relinquishing her ceo responsibilities, she will continue to serve in the role of chair of the board of the company.
According to sources, Yucaipa was getting increasingly frustrated with the lack of return on its Zac Posen investment and sought a change at the helm to steer the business in a new, more profitable direction. Zac Posen, who showed his main collection in Paris and his secondary line in New York during the last round of collections, has made a media splash practically since the day he launched his collection almost a decade ago, but he has been challenged to build a business that matched his early fashion profile.
Susan Posen said she was “pleased to welcome Susan Davidson who has joined us as ceo. She will now steward the Zac Posen and Z Spoke brands. I look forward to their success and growth.”