Prada CEO Gianfranco D’Attis will depart from the company at the end of this month, following what the company described as a “mutual agreement,” according to a report by Reuters.

D’Attis, who joined Prada in 2023, was charged with steering the brand’s global strategic development. His exit marks a swift leadership change, coming just over a year after he took on the role.

Throughout his career, D’Attis previously served as president of Christian Dior Americas and has held senior positions across the fashion industry.

Prada Group CEO Andrea Guerra will assume the CEO role of the flagship Prada brand on an interim basis while the search for a permanent successor is undertaken.

The leadership shake-up comes on the heels of Prada’s recent $1.375 billion acquisition of Versace in April, a landmark move aimed at cementing Italy’s position in the global luxury landscape.