New managers are being put in place at prestigious Gucci Group fashion houses. A new head at Balenciaga follows the departure of executive vice-president and director of strategy and acquisitions James McArthur. Sergio Rossi's CEO Isabelle Guichot now takes the helm at the label designed by Nicolas Ghesquière. She will also continue at the luxury footwear label until a permanent successor is named in the next few months.

McArthur had been president and CEO of Balenciaga and also oversaw Alexander McQueen and Stella McCartney. Gucci said in a statement that he "has decided to leave the group," but gave no details of his destination. He officially resigns this Friday "having effected a smooth transition of his various roles in the past two months".

Alexis Babeau, who is Gucci Group's CFO and executive vice-president, will add strategy and acquisitions to his role as a result. Group CEO Robert Polet said: "We are sorry to see James leave. He has contributed greatly to assembling the excellent portfolio of brands that Gucci Group has built, to helping to develop the Stella McCartney, Alexander McQueen and Balenciaga businesses, and in particular in leading Balenciaga to profitability two years ahead of the group's schedule. We wish him the very best as he now turns to new challenges."