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Michele Norsa to Leave Ferragamo by End of 2016

Michele Norsa will leave his post as CEO of Ferragamo by the end of the year, the company announced Thursday.

After a decade with Ferragamo, Norsa has decided to amicably part ways with the Italian luxury brand to focus on family. The announcement comes only a month after Massimiliano Giornetti stepped down from his role as creative director at the brand.

“Norsa has expressed the wish to prioritize family and to focus on new professional interests after a long period of intense efforts and rewarding results,” the company said in a statement.

Norsa, who lead the company through a successful period, including its 2011 stock market listing, will continue to work with the Florence-based brand in a non-executive role until Ferragamo shareholders approve the company’s 2017 financial statement, expected sometime in early 2018.