Miuccia Prada becomes co-CEO of Prada

Italian fashion house Prada has announced that Miuccia Prada has stepped down from her position as

chairwoman of the board to become co-chief executive alongside her husband, Patrizio Bertelli.

Miuccia Prada, also the creative director of the label, has relinquished her role as chairwoman to comply with the rules of the Hong Kong Stock Exchange. The change in position is said to be just a “formal move” and that it will not change the operations of the business, according to Reuters.

With Prada confirming that Miuccia would be "concentrate on the day-to-day management of the business by devoting her time to guiding the further development of the group, mainly in the creative design and brands communications activities".

Deputy chairman Carlo Mazzi will replace her as chairman.