Photo: Patrick McMullan

Confirming rumors that emerged last month, Mario Grauso will step down as president of Carolina Herrera and Puig Fashion Group. Herrera's show is this morning, so this is fairly dramatic timing to lose a big executive. Puig CEO Mark Puig said that Grauso, Herrera, and he all decided together, amicably, that Grauso's contract wouldn't be renewed. It's unclear why Grauso left, but some speculate he was unhappy with Olivier Theyskens's dismissal from Nina Ricci, which Puig also owns. Grauso is credited with turning celebrities on to Puig labels. If it weren't for him, Renée Zellweger might not wear Carolina Herrera on every red carpet from here to Mars. No word on where Grauso will end up or who will replace him.

Mario Grauso Leaves Puig [WWD]