Dolce & Gabbana Gabbana Steps Down as Chairman Effective Jan. 1

Stefano Gabbana has resigned as chairman of Dolce & Gabbana effective January 1, although he will maintain a creative role. Alfonso Dolce has been appointed as the new chairman. The fashion house is managing €450 million ($525.7 million) in debt and is seeking €150 million in new funding as part of a refinancing effort. The company has also reportedly considered selling real estate and renewing licenses to generate additional revenue for debt management.