Lately, just after the couture show at Paris, the luxury house confirmed the departure of Maureen Chiquet, chief executive of the company, at the end of the month. Taking her place will be Mr. Alain Wertheimer, is the grandson of the founder, Gabrielle Chanel, would take over the operational management of the company during the search for a new chief executive. Mr. Wertheimer and his brother, Gérard, who rarely take front-row seats at Chanel fashion shows or talk to the news media, have $11.8 billion fortunes and are the sixth- and seventh-richest people in France.
“Chanel is grateful for what Maureen has done to bring Chanel into a new era of its development, in close collaboration with the leadership team, and wishes her continued success,” the company said.
