Donatella Versace. Photo: Getty Images

Versace is officially in the market for a new CEO. Giancarlo Di Risio has stepped down from the position, reports WWD.

Di Risio joined the company in 2004, but WWD has been covering the possibility of a shakeup of the executive team since mid-May.

In fact, an earlier WWD article stated that there were strategic differences between the family-owned company. and its CEO. Guess they were right.

Italian fashion houses have seen a recent reshuffling of the executive position. Some even speculate that Di Risio could be a possible candidate for the CEO position at Roberto Cavalli.