Yesterday, Bloomberg broke the news that Net-a-Porter founder Natalie Massenet is leaving company just as it is in the midst of merging with bargain bin giant Yoox, the deal of which is expected to finish in October. The seminal online retailer was Massenet's baby for the past 15 years, building it from the ground up to the force it is today.
She had already changed her role from CEO to Executive Chairman as the deal between the two companies materialized and it seems something wasn't right with between Massenet and Yoox's Federico Marchetti, who will be the CEO of the overarching conglomerate. Massenet obviously had a lot of eggs in the Net-a-Porter basket in the form of mad stock options, which she decided to cash in to the tune of about $153 million, so don't feel too bad for her. But as it stands today, her involvement in the company is now effectively nada. Whether Net-a-Porter will continue its success in light of losing its number one public face will remain to be seen until the merger is fully completed. Still though, for $153 million, Operation Cash Out 2K15™ is in full effect.
