Micaela le Divelec Lemmi, Salvatore Ferragamo’s chief executive since 2018, will leave the company early September. The decison was made after the Italian fashion house hired Marco Gobbetti, currently chief executive of Burberry, as its general manager and CEO.

He is scheduled to join Ferragamo as soon as he is released from his contractual obligations with the British luxury goods group. Burberry expects Gobbetti to remain until the end of the year, to provide an orderly transition while it seeks a replacement.

Le Divelec will keep her job until Sept. 7, when the board meets to approve Ferragamo’s first-half results. After which she will resign as CEO and board director and her powers will be passed on to the vice chairman, Michele Norsa.

She will obtain €1.974 million in compensation for the early termination of her contract. The monies will be paid by Sept. 30. Le Divelec had been confirmed in her role after the board was re-elected for three years on April 22 by shareholders.

The company’s chairman, Leonardo Ferragamo, expressed his “sincere thanks” for le Divelec’s contribution and confirmed the “fundamental role” Gobbetti will have in fostering Ferragamo’s development.