Jeff Banks has been removed from the board of Vivienne Westwood in a major shake-up that has caused tension within the company. This move has put him at odds with Andreas Kronthaler, Westwood’s husband and the creative director, as well as CEO Carlo D’Amario.
Banks, who still manages his own fashion business and is known for his commercial approach, was appointed as a director shortly before Westwood’s passing in late 2022. He had a long-standing friendship with Westwood and had served as a mentor to her on business matters.
According to a report by The Mail on Sunday, there has been internal conflict within the company, leading to what some are calling a “coup” that has thrown the company into disarray. However, there has been no recent update on the company’s performance since it last reported rising sales and profits for 2022 in January.
Unnamed sources cited by the Mail claim that Banks was removed from his position due to disagreements over the company’s strategic direction and concerns that Westwood’s legacy was at risk. Westwood was reportedly unhappy with how her label was being managed and wanted a shift towards a focus on quality and creativity, rather than quantity.
Banks was asked to preserve the brand’s heritage that he had helped establish in the 1980s, but now he finds himself negotiating the terms of his departure from the board. Despite these developments, neither Banks nor the company has officially commented on the situation.
The departure of Banks from the board marks a significant change for Vivienne Westwood and raises questions about the future direction of the brand. With tensions running high and the company’s leadership in flux, stakeholders will be closely watching to see how this internal power struggle will impact the iconic fashion house.