>> Zac Posen's mother and longtime business partner, Susan Posen, has left the company to "pursue other interests," relinquishing her CEO duties at Posen to Susan Davidson, who is also CEO of Scoop NYC. Both companies are owned by Ron Burkle's The Yucaipa Cos.
“It has been nearly 10 years since Zac, Alexandra and I founded Zac Posen,” Susan Posen, who will continue to serve in her role as chair of the board, said yesterday by email. “During that time I have had the privilege to work — both within the company itself and in the larger fashion arena — with an amazing group of people. The company is now poised for a new phase of growth, and I have decided it is time to step aside from my current role as acting CEO and pursue other interests.”
WWD's sources say that Yucaipa "was getting increasingly frustrated with the lack of return on its Zac Posen investment and sought a change at the helm to steer the business in a new, more profitable direction." Susan Posen had said in April that she expected the company to make its first profit this year. She also noted yesterday that she was “pleased to welcome Susan Davidson who has joined us as CEO. She will now steward the Zac Posen and Z Spoke brands. I look forward to their success and growth.”
