Rihanna has stepped down from her role as Chief Executive Officer (CEO) of her lingerie brand, Savage X Fenty. Rihanna has not only made a name for herself in the music industry but also in the world of fashion.
Savage X Fenty is known for its inclusivity, offering a wide range of sizes from 32A – 44DD in bras, and XS – 3X in undies and sleepwear. The brand's name pays homage to Rihanna's surname, Fenty, and the "X" stands for all, signifying that "savages come in all shapes and sizes," as Rihanna shared on her Instagram account.
Under Rihanna's leadership, Savage X Fenty has grown significantly. The brand was valued at $1 billion in February 2021, and its value has continued to rise since then. Rihanna herself owns a 30% stake in the brand, further solidifying her status as a successful businesswoman.
However, on June 26, Rihanna officially announced her resignation as CEO of Savage X Fenty. She will be replaced by Hillary Super, who was previously a board member and CEO of the company. Despite stepping down from the CEO position, Rihanna will continue to play a crucial role in the company as the executive chair and "brand visionary."
The decision to step down as CEO was reportedly made to allow Rihanna to focus more on her role as executive chair of the company. As CEO, Rihanna's responsibilities included planning, organizing, staffing, coordinating, controlling, directing, reporting, and budgeting. Now, as executive chair, she will likely focus more on long-term goals, growth, profit, and return on investment.
Rihanna's resignation as CEO marks a significant shift in the management of Savage X Fenty. As she steps into a new role within the company, fans and industry watchers alike will be keen to see how Savage X Fenty evolves under its new leadership.
