Luxury goods firm Gucci Group has announced that Mark Lee, the CEO of its Gucci brand,  is to leave the company at the end of the year and will be replaced by Patrizio di Marco.

Di Marco, currently president and CEO of Bottega Veneta, will take up the top position at Gucci after Lee decided not to renew his contract when it expires on 31 December 2008.

Marco Bizzarri, president and CEO of Stella McCartney will now become president and CEO of Bottega Veneta.
Lee has been with the Gucci Group for more than 12 years. After starting at Gucci in 1996, he became president and CEO of Yves Saint Laurent in 2000 - a position he held until 2004 when he became president and CEO of Gucci.

In the past four years he is credited with growing Gucci brand revenues by 46%.
Lee said he intends "to pursue other interests and spend more time in New York City."
Gucci Group, whose brands include Gucci, Yves Saint Laurent, Bottega Veneta, Alexander McQueen, Balenciaga, and Sergio Rossi, said it will shortly name the new CEO for the Stella McCartney brand.