Diesel North America names Patrick Valeo as new CEO
Apr 29, 2020
Italian clothing brand Diesel has named Patrick Valeo as chief executive officer of Diesel North America, effective immediately.
In the role, Valeo will lead the company forward, "focusing on consistent and robust growth," the brand said. He will report to global CEO, Massimo Piombini.
Prior to joining Diesel, Valeo most recently served as president of MCM Worldwide, a role he began in September of 2014. Previously, he has also served as president and chief operating officer of SMCP USA Inc., vice president, retail at Dolce & Gabbana, vice president, retail of Gucci America and national sales manager of LVMH, Guerlain and Givenchy, among other roles.
As CEO of Diesel North America, Valeo succeeds Stefano Rosso, who spent the last three years in the U.S. navigating the brand and its operations through a significant reorganization that included a three-year turnaround plan for all channels of business and marketing, the brand said.
Rosso will continue as a member of the board of directors of OTB (Only The Brave), the parent company of Diesel, as well as Maison Margiela, Marni, Viktor & Rolf, Amiri, Staff International and Brave Kid.
Last month, OTB announced that it is keeping its 2020 revenue target for now, and reported positive 2019 financial results with consolidated revenues of 1.53 billion euros ($1.7 billion USD).
With businesses and brands continuing to launch new corporate social responsibility efforts during the Covid-19 pandemic, several OTB brands - including Diesel, Maison Margiela and Marni- announced earlier this month that they will each donate 10% of their online revenues from April to Covid-19 relief efforts.
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