Versace names new chief exec

Italian fashion designer Gianni Versace SpA has named Gian Giacomo Ferraris of the Jil Sander Group as its new chief executive, after Giancarlo Di Risio resigned last week . It is believed that Di Risio and design head Donatella Versace had disagreed sharply over strategy, especially cost cuts, as the current financial crisis takes its toll on luxury fashion designers.<br />