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Rihanna has released a statement announcing she is stepping down from her role as CEO at Savage X Fenty, the lucrative lingerie brand she founded five years ago.
The pop star and beauty business mogul, who is about to give birth to her second child, will take on the role of executive chair starting June 26. The brand is praised for its focus on diversity and its appeal to women of all body types and skin tones. The success follows the launch of Rihanna’s beauty range – according to The Guardian, those deals and her music are estimated to have brought the superstar a whopping $1.4 billion in net worth.
Rihanna confirmed the news and said:
“It’s been wonderful to see how our vision for Savage X Fenty has impacted the industry at such an incredible level over the past five years. This is just the beginning for us and we will continue to expand in a way that always connects with the consumer:
Rihanna’s place at the helm of Savage X Fenty will be taken by Hillary Super, former CEO of Anthropologie Group.
Rihanna said, “I am so grateful and excited to welcome Hillary Super as our new CEO – she is a strong leader and focused on taking the company to an even higher level.”