Erica Berchtold out, Ray Itaoui in at Best & Less

By Rakshnna Pattabiraman

Outgoing CEO of The Iconic Erica Berchtold will no longer take over as chief executive of Best & Less Group in September, as the struggling discount apparel retailer had previously announced. 

Instead, Ray Itaoui, a co-investor and long-time partner of BBRC, whose takeover offer for BLG is set to close at the end of this month, will continue as CEO of the business, after assuming the responsibilities of chief executive earlier this month. At the time, it was stated that this would be for a transitional period.

Itaoui has more than two decades of retail experience leading brands such as Sanity Music, Bras N Things and Honey Birdette. He is also BLG’s executive chair.

Of his appointment, Itaoui said he is “committed” to taking decisive action necessary to lead the company in the current challenging trading condition.

Erica Berchtold and Best & Less agreed not to proceed with her appointment, according to an ASX statement from BLG.

L’Oreal Group ANZ appoints Alex Davison as its new CEO 

By Irene Dong

Alex Davison has been appointed the new CEO of L’Oreal Group ANZ, succeeding Rodrigo Pizarro. 

Davison has served as the CEO of L’Oreal Greece for the past three years. According to the group, Greece has continuously been among the fastest-growing markets in Europe under his leadership, with the company achieving three years of double-digit growth, and building market share in every business channel. 

“This aligns with my personal leadership values and I’m looking forward to working with the team as we build brands tailored for Australian and New Zealand consumers, and a business focused on sustainability and diversity,” said Davison. 

In 2016, Davison began working for the L’Oreal Group as the UK GM of the business division for Dermatological Beauty. Prior to that, he worked for Procter & Gamble for 17 years. 

VF Corp names Bracken Darrell as its new CEO

By Irene Dong

Dickies, Timberland, and Vans parent VF Corporation has appointed Bracken Darrell as president and CEO, starting 17 July. Darrell has served as CEO of Logitech International since 2013. 

Benno Dorer, who has been VF’s interim president and CEO since 5 December, will continue to serve on the board, and Richard Carucci, a VF board member since 2009 and interim chair during the organisation’s recent leadership change, has been named chair. 

“Darrell’s broad executive management and deep international experience make him uniquely suited to partner with and guide VF’s executive team and 35,000 talented associates around the world to fuel an exciting new future for the company,” said Carucci. 

Puma China names Shirley Li as its new GM

By Tong Van

German sportswear label Puma is planning to strengthen its influence in China with the appointment of Shirley Li as its new GM in the country. 

Li will succeed Philippe Bocquillon, who will take on new roles at the company as area manager for Greater China and GM of Puma Hong Kong. Meanwhile, Paul Yu will remain the GM of Taiwan. Both Li and Yu will report to Bocquillon. 

“I am very confident that under her leadership, we will rebound strongly in China which is one of our key strategic priorities,” said Arne Freundt, CEO of Puma. 

Joining the company earlier this year as commercial director, Li has more than 20 years of experience in the industry and a deep understanding of the Chinese market. Before Puma, she served at Adidas as VP of wholesale. 

David Lu, who joined Puma in March, will take over Li’s current role as commercial director. Lu recently worked as GM of Levi’s retail operations. 

All the changes will take place on 1 July.