Diesel CEO Daniela Riccardi to depart

Daniela Riccardi has resigned from her position as CEO of Diesel.

The fashion executive is set to leave the luxury brand on April 1 after three years with the company, it has been confirmed.

Daniela's departure comes amidst several changes being made at Diesel's parent company, Only the Brave Srl, which is being rebranded OTB SpA, according to WWD.

The company will also appoint a new co-CEO, Stefano Rosso, who is the son of Diesel founder Renzo Rosso.

As well as Diesel, the fashion giant operates fashion labels such as Maison Martin Margiela and Viktor & Rolf. The company also owns Staff International, the manufacturing company which produces and distributes collections for Vivienne Westwood Red Label, Marc Jacob menswear, DSquared2 and Just Cavalli.

OTB SpA is set to launch a major fashion brand conglomerate in Italy, Renzo Rosso has confirmed.

He said: ''It's my big dream to create a modern group that is an alternative to the existing ones. We are beginning to become one such group and we are working on consolidating it.''