NICE, France, Dec 6, 2011/ FW/ — After a three-year tenure as Executive Chairman of the Board and one-and-half years as Chairman and Chief Executive Officer of the Façonnable Group, Lance Isham is stepping down from his post as CEO on Dec 31, 2011 to pursue his family business and relocate back to the U.S.
Isham, who will stay on as Chairman of the Board, will be succeeded by Moustapha El-Solh of the M1 Group, who will become acting CEO of the Façonnable Group starting on Jan. 1, 2012.
The two executives will work closely during the first quarter of 2012 to assure a smooth transition.
“Lance Isham’s role and contribution in these past three years has been instrumental to the M1 Group in order to identify and strategize the future of the brand after our acquisition in 2007 as well as developing our vision of Façonnable as a primary player in the luxury lifestyle niche”, says Maher Mikati, M1 Fashion’s Chief Executive Officer and shareholder of Façonnable.
“The new appointment of Moustapha El-Solh further underlines our direct commitment in strengthening the brand and assuring the best leadership and expansion for the future”, Mikati added.
Moustapha El-Solh has been with the M1 Group for the past 16 years detaining various key positions in different fields. From 1995 to 2005 he managed different areas within the Group’s telecom division, while in 2007 the M1 Group gave him the mandate toestablish a real estate investment group.
He thus became CEO of the M1 Real Estate group, reuniting various companies to form a real estate portfolio comprising of commercial, residential and development assets. He is currently Executive Director of the M1 Group.