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Net-A-Porter CEO Retires

Online luxury fashion retailer, Net-A-Porter, is on the hunt for new leadership. The company announced that its longtime CEO, Mark Sebba, will retire from his post this week after 11 years of service. Sebba came on board during the high fashion e-tailer’s infancy in 2003. He will remain a non-executive director.

In the announcement, Sebba said he is stepping down at a time when the company is at its strongest. He added, “Our revenue is growing, we are market leaders and we continue to innovate and raise the bar in terms of our customer experience. We reach an audience globally of over nine million customers across multiple channels: web, mobile and app platforms.”

Net-A-Porter founder Natalie Massenet sold the company to Richemont, a Swiss-based luxury good and jewelry company, in 2010 for $343 million. Net-A-Porter is currently estimated to be worth about $3.3 billion globally.

Massenet, chair of Net-A-Porter, said, “Mark Sebba has been the best CEO this company could have hoped for and my greatest ally. Since 2000, Net-A-Porter has championed innovation, creativity, technology and customer service and at its heart has been a man of incredible integrity, wisdom and strength. Not only has he grown our business exponentially and healthily and guided us through our sale to Richemont–he has also brought calm and confidence to the core of our group.”