Alexander Wang announced today that he will be stepping down from his role as CEO of his namesake brand.

The title will be bestowed upon former Goop CEO Lisa Gersh, who will work alongside the newly appointed chief strategy officer, Stephanie Horton. The 33-year-old American fashion designer will remain on board as the creative director and chairman of the company’s board of directors.

In a recent statement, Lisa Gersh said:

“I am honoured and excited by the opportunity to help Alex shape this remarkable company. The Alexander Wang brand has always represented style, innovation and an extraordinary standard of quality and excellence. I’m looking forward to working with Alex and the rest of the team to build on his foundation, and to continue to delight customers with our products and creative vision.”

The newly appointed roles and changes at the famed fashion brand “highlight our ongoing strategy of productivity and diversification,” said Wang.