Rihanna Removed From Savage X Fenty? Singer's Lingerie Brand Hires New CEO

Rihanna might be clearing up her desk for something big.

According to reports, the "Disturbia" singer stepped down from her position as CEO of her lingerie brand Savage X Fenty and handed the reigns to Hillary Super.

That does not mean however that Rihanna is completely hands-off from her beloved brand, reports say that she will still remain in a leadership role as an executive chair in Savage X Fenty.

Super, on the other hand, was the former CEO of Anthropologie Group, which handled Guess, American Eagle, and Gap. She obviously has extensive knowledge about making an apparel brand into a household name.

Why Did Rihanna Step Down from Savage X Fenty?

As much as fans hope that Rihanna is stepping down from her CEO duties to make more time for music, that is not exactly the case.

The singer slash business woman is eyeing to expand Savage X Fenty, and lend it more credibility on Wall Street.

"It's been beautiful to see our vision for Savage X Fenty impact the industry at such an incredible magnitude over the last five years," Rihanna said in a statement.

"This is just the beginning for us, and we're going to continue to expand in ways that always connect with the consumer.

"I'm so grateful and excited to welcome Hillary Super as our new CEO - she is a strong leader and is focused on taking the business to an even higher level."

How Much Does Rihanna Earn?

Savage X Fenty as well as its sister make-up brand Fenty was founded by the "We Found Love" singer; in fact, it is where she gets most of her earnings from.

According to Forbes, Rihanna has established herself as one of the richest female artists not by simply performing and releasing music-it is all thanks to her successful brands.

The handover will reportedly happen on June 26 and is expected to perform better than last year's $125 million.

Rihanna sees Super as the person who can bring her already-successful brand into something more, after all, she was included in the 2017 list of "Forty women to watch under 40."

Reports also show that Savage X Fenty is working to bring their initial public stock offering to a $3 billion valuation.

Despite relinquishing her CEO title to someone else, Rihanna has a lot more to gain from this handover, and it might only boost her considerable net worth to $1.7 billion.

Tags

Rihanna