Giancarlo Di Risio, CEO of Gianni Versace SpA, may want to dust off his résumé, if the rumors are to be believed.
A dispute with creative director Donatella Versace has Di Risio's fate hanging in the balance, and will probably lead to his termination following a board meeting today in Milan, Italy, reports Bloomberg News.
Di Risio recently butted heads with Donatella over her choice of photographer Mario Testino – who charges a minimum of $140,000 a day -- for a recent ad campaign.
Hired by Versace in 2004, Di Risio helped rescue the company, playing a key role in partnering with Donatella to help refocus the brand and return it to profitability.
"Di Risio did a good job of turning Versace around and positioned it well,” Carlo Pambianco, a Milan-based fashion industry consultant, told Bloomberg. "Versace can’t try to compete with larger brands, such as Armani or Gucci. He established its own niche."
