Versace’s CEO Resigns

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Just as predicted, Versace CEO Giancarlo di Risio resigned today. Versace did not give a reason for Di Risio's departure, but rumors have swirled for some time that he had clashed with Donatella Versace over budget as the house succumbed to losses in the recession. Di Risio will stay on temporarily to ensure a "smooth transitional period" for the label. Versace has not named a successor. Hopefully they can keep their finances on track. [Reuters]