MILAN — It’s a time of changes at Moschino.

After the exit of creative director Jeremy Scott last week, general manager Stefano Secchi is parting ways with the style brand. The split is going down by mutual consent, the corporate said on Wednesday, and is effective on Friday.

The rationale for the departure was attributed to divergent views over the strategy for Moschino going forward.

Massimo Ferretti, executive chairman of Moschino parent company Aeffe, thanked Secchi “for his skilled contribution until today,” and the latter in turn expressed his gratitude on the “opportunity to guide this glorious brand within the last 4 years; despite the pandemic and the hostile economic circumstances, now we have accomplished essential strategic projects for the brand.”

Aeffe executive Goffredo Palmerini will provide managerial and operational continuity at Moschino.

Secchi joined Moschino in the autumn of 2019, succeeding Gabriele Maggio.

Secchi arrived on the Italian brand with experience in the posh fashion industry on a global scale. He was previously industrial director at Etro for 3 years. Before that, he was global wholesale director at Versace. Secchi’s profession began on the Giorgio Armani Group, with increased responsibilities over eight years, becoming group strategic marketing manager in 2011.

Aeffe’s board agreed to pay Secchi 317,000 euros gross as a termination incentive and 1,000 euros gross as settlement, to be made on April 10. Secchi isn’t certain to non-competition covenants.

The board also approved the absorption of the wholly-owned subsidiaries Moschino SpA and Aeffe Retail SpA as a part of a company rationalization and reorganization process that began in 2022 with the absorption of Velmar SpA.

Aeffe said the move is supposed to enhance efficiency on the group and save costs.

After the exit of Scott, which market sources said was amicable, going down on the natural end of Scott’s contract, it is known Ferretti remains to be talking to candidates and that a successor to Scott has not been identified yet.

Aeffe also includes the Alberta Ferretti, Philosophy di Lorenzo Serafini and Pollini brands.

In 2022 Aeffe revenues amounted to 352 million euros, up 8.4 percent in comparison with 325 million euros in 2021. While the group doesn’t break down sales by brand, sources say Moschino represents 70 percent of the whole.

Moschino was founded by Franco Moschino in 1983 and Aeffe has held the license for the production and distribution of the brand’s women’s and men’s collections since then.

Following the designer’s death in 1994, Aeffe acquired a 70 percent stake in the corporate, further developing the brand globally. Aeffe took full control of Moschino in 2021, paying 66.6 million euros for the 30 percent stake within the brand it didn’t own. It also acquired the license to supply and distribute the Love Moschino collections of ladies’s apparel in-house for 3.6 million euros.

In 2021, Aeffe also took control of Moschino’s distribution in mainland China, signaling the increasing relevance of that marketplace for the label, involving around 20 stores.