Michelle Mone resigns from board of her “beloved Ultimo”
Entrepreneur Michelle Mone posted a sentimental farewell to her “beloved Ultimo” on Twitter today, following her resignation from the board of the company she founded almost 20 years ago.
She said it was time for the lingerie and swimwear brand to “flourish” and start its “next chapter” without her.
The end of an era…….. pic.twitter.com/BRE8l1eqyJ
— Lady (Michelle) Mone OBE (@MichelleMone) August 18, 2015
Ultimo confirmed in a statement that Mone, who set up Ultimo's parent company MJM in 1996 with her then-husband Michael, had made the decision to part ways with the company earlier this month.
It said she no longer had enough time to devote to the firm due to other projects and commitments.
Ultimo wishes Michelle every success in her new personal projects and public engagements, and thanks her for contributions in the past and for her future support of Ultimo's growth.
Last year, Mone sold an 80 per cent stake in the company to MAS Holdings – a lingerie group based in Sri Lanka.