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Natalie Massenet Is Leaving Net-a-Porter

The news comes just a month before the online retailer is expected to finalize a merger with Italian e-commerce rival Yoox.
Photo: Stephen Lovekin/Getty Images

Photo: Stephen Lovekin/Getty Images

Natalie Massenet has left online fashion retailer Net-a-Porter, the company announced Wednesday.

The fashion entrepreneur, who founded the site in 2000 and most recently served as its executive chairman, tendered her resignation upon returning from a recent vacation, according to Bloomberg, which broke the story. Massenet has also reportedly sold her shares in Net-a-Porter and is exiting the company with more than £100 millions (roughly $153 million).

In March, Net-a-Porter announced it had reached an agreement to merge with Italian e-commerce competitor Yoox — and in late July, Yoox's shareholders gave the company the green light to finalize the deal. The merger is still expected to be completed by October.

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Here is the resignation announcement in full:

YOOX S.p.A. (MTA:YOOX) announces that, following Natalie Massenet’s tendering of her resignation today as Executive Chairman of THE-NET-A-PORTER GROUP, Ms. Massenet will not be a member  of the Board of Directors of the new Group, which will result from the upcoming merger.