“It has been nearly 10 years since Zac, Alexandra and I founded Zac Posen,” Susan Posen, who will continue to serve in her role as chair of the board, said yesterday by email. “During that time I have had the privilege to work — both within the company itself and in the larger fashion arena — with an amazing group of people. The company is now poised for a new phase of growth, and I have decided it is time to step aside from my current role as acting CEO and pursue other interests.”

Susan Davidson, the CEO of Scoop NYC, a sister company of Ron Burkle’s, The Yucaipa Cos, will take over as CEO of the brand.

The move comes on the heels of Yucaipa’s growing frustrations “with the lack of return on its Zac Posen investment and sought a change at the helm to steer the business in a new, more profitable direction.” Susan Posen said.

She is however welcoming the change saying she is “pleased to welcome Susan Davidson, who has joined us as CEO. She will now steward the Zac Posen and Z Spoke brands. I look forward to their success and growth.” {Fashionologie}

The Posen label, despite having a stable amount of press, is reported to have yet not yet delivered on profits and the most recent showing of his more moderately priced Z Spoke line in Paris has received not-so-stellar reviews. {NY Magazine}

Perhaps this change will be just what the label needs to boosts revenues.

After the “elimination” of the Vice President of Communications position formerly held by Karen Duffy whose responsibilities are now being divided by Zac Posenâ€s mother Susan and long-time Director of Public Relations and Celebrity, Alexandra Smith, major layoffs are expected to continue to shake the showrooms of Posen and now… Gucci! While it may have been a foreseeable regret for a new label like Posen in these tough times, it’s an even more devastating defeat for fashion powerhouse Gucci. Chanel had a round of layoffs that affected mostly contract workers, and luxury makers in general have had a difficult 2008. There have been glimmers of hope that economic difficulties wouldn’t continue to 2010, but these recent developments make us wonder. If fashion heavyweights are still shedding staff, just how long will it take for a full recovery? With investors in other sectors returning to the table, we hope that retail and fashion aren’t far behind.

Read the full story {Daily News}