Alexander Wang took over as CEO of his eponymous label 15 months ago and now the designer has announced that today he is stepping down from the role. Lisa Gersh, the former head of Gwenyth Paltrow’s lifestyle brand Goop, will takes the reigns and fulfill the CEO duties. Wang who started the New York City based label in 2005, will remain as creative director and chairman of Alexander Wang Inc.’s board of directors.

Also added to the Wang Squad is Stephanie Horton of online retail site Farfetch, who has been appointed to the newly created position of chief strategy officer,

‘I’m looking forward to working with Alex and the rest of the team to build on his foundation, and to continue to delight customers with our products and creative vision.’

Horton also added: ‘Pushing boundaries and extreme creativity has always been at the core of the Alexander Wang business.

‘I look forward to working with the team to expand these capabilities, as well as looking outside of traditional channels and spectrums, to develop new and innovative growth opportunities for the brand.”

Alexander Wang was working simultaneously with Balenciaga at a time, but left the fashion house to focus on CEO duties at his own label. Explaining the addition of the two new key creatives to the company, Wang seems hopeful about the brand’s ever expanding future.

‘In my year as CEO I’ve been able to reflect and assess the strengths and opportunities of the company and set the stage for future growth.

‘Lisa and Stephanie’s diverse backgrounds in the media, lifestyle, and digital landscape will help us continue to position the business to expand into new categories and territories.’

Stay tuned for the latest on A Wang and be sure to peep his latest collaborative effort with adidas.