There's a new CEO in town at Diane Von Furstenberg. In fact, he's actually the company's first chief executive. Meet Paolo Riva.
The New York-based fashion house announced Riva's appointment on Monday, ending a two year-long candidate search led by co-chairman Joel Horowitz, who was tasked with finding someone to fill the CEO role when he joined the board in 2012. Riva comes from Tory Burch, where he was the vice president of apparel and visual merchandising. (Before that he worked in merchandising, marketing and product development at Valentino and Ferragamo.)
Riva's appointment only adds to the speculation that DVF is getting serious about going public, rumors of which have been circulating for quite a few years now. As Von Furstenberg said in a statement, "I am excited that after a long search, I have found the perfect person to lead the company into the future." A future that involves an IPO? Maybe.