SHANGHAI — Lanvin Group said its chief financial officer Shang Koo had informed the board of his decision to resign on Tuesday.
David Chan, Lanvin Group’s executive president, will serve as interim chief financial officer while the company looks for a replacement, according to a recent SEC filing.
Chan will retain his position as executive president of Lanvin Group, overseeing the group’s merger and acquisition strategy, brand operation and other responsibilities.
“I would also like to express my sincere gratitude to Shang for his contribution to Lanvin Group, particularly during the group’s listing process,” said Joann Cheng, chairman and chief executive officer of Lanvin Group. “We wish him every success in his future endeavors.”
Koo joined the Chinese-owned luxury group in October 2021 after serving as chief financial officer at 17live Inc., Japan’s largest livestreaming platform and Jiayuan.com, a Nasdaq-listed Chinese online dating platform.
Koo launched his career at the investment research platform Pacific Epoch. He later worked as an equity research analyst at Oppenheimer &Co. and Piper Jaffray.
Lanvin Group, the owner of Lanvin, Wolford, Sergio Rossi, St. John Knits and Caruso, made its debut on the New York Stock Exchange last December.
The company’s market debut was off to a tough start. On the first trading day, Lanvin Group’s stock price shot up to $22.81 before dropping to a $4.63 low, then closing at $7.37. Lanvin Group, under the ticker “LANV,” was trading at $6.21 at the time of publication.
Lanvin Group is due to report its unaudited 2022 full-year results on Feb. 17.
“For our first financial announcement as a newly listed company, we look forward to providing an early understanding of last year’s revenues, ahead of the release of our final audited 2022 financial results in April,” Cheng said.