Global Brands Group has announced that Leong Kwok Yee (“Frank”) will retire as chief financial officer at the end of June and will be succeeded by Ron Ventricelli, who currently serves as chief operating officer.

Dow Famulak will take on the role of chief operating officer in addition to his current responsibilities as president of the company.

“I thank Frank for his unwavering commitment and appreciate his contributions to the success of Global Brands as a new, independent listed company. I feel fortunate to have had Frank as our CFO and as my colleague through the years. We wish him and his family all the best in his retirement,” says Bruce Rockowitz, chief executive officer and vice chairman, Global Brands Group.

As CFO, Ventricelli will be responsible for the group’s finance and treasury matters, including financial reporting, accounting, mergers and acquisitions, as well as legal and information technology. Prior to Global Brands, he was chief operating officer of LF USA and played a crucial role in establishing the business and in various corporate acquisitions.

Famulak will continue to manage the group’s business operations globally. Previously, he served at Li & Fung Limited in various senior management roles across the company’s global businesses in North America, Europe and Asia.

“Global Brands has a deep and talented executive bench. I am confident that our team will continue to excel in their respective roles, while at the same time further building on the success that we have achieved since our listing as an independent company,” says Rockowitz.