Natalie Massenet Resigned as Executive Chairman of the Net-a-Porter Group

Natalie Massenet, founder of e-commerce giant Net-a-Porter, has reportedly resigned from her position, according to Bloomberg.  Ahead of a planned merger with Yoox, an insider with direct knowledge of the situation said Massenet returned from vacation and gave her notice. She’ll walk away with 100 million pounds ($153 million) after selling her shares in the U.L.-based company.  In March, NAP merged with Yoox.com, one of its biggest rivals in the luxury goods market, for a combined $1.5 billion valuation. “Today, we open the doors to the world’s biggest luxury-fashion store,” Massenet said in a statement at the time. “Together, with our world-class teams in technology, logistics, content, and commerce, we are redefining the fashion media and retail landscape.” She noted that she would stay on as chairman while Federico Marchetti, Yoox’s founder, would take over the role of CEO of the newly formed Yoox Net-a-Porter Group.