Denim lifestyle brand Diesel has named Daniela Riccardi its new CEO and announced several significant changes to its Only The Brave holding, including nearly 30 job cuts inside Diesel SpA and some of its controlled companies.

Steadily evolving over the last several yeas, Only The Brave was led by growth of the Diesel brand and several acquisitions in prêt-à-porter — Staff International, Maison Martin Margiela and Viktor&Rolf — beginning in 2000. In 2009 Only The Brave reported net sales of about €1.3 billion (down 3.5% from 2008).

The company said it is now aiming to maximize its efficiency and internal synergies to give life to a modern, fast and agile structure able to face the present market’s challenges. The new organization will bring changes to Only The Brave and the companies tied to Diesel, though. Only The Brave will have its own organizing structure, while following the growth strategies of the whole group. Renzo Rosso will continue to be the President of the holding as Marina Tosin, a longtime collaborator of the group, will continue in the role of CEO.

Meanwhile, Diesel’s new CEO as of July will be Daniela Riccardi. The manager had been working for 25 years for Procter & Gamble occupying prestigious positions in Europe, Southern America, Russia and Asia. Her last position was President of P&G China. In an effort to increase efficiency, share services and optimize resources, the company said it eliminated nearly 30 employees within Diesel SpA and some of its controlled companies. The headquarters of Only The Brave and Diesel SpA will also move to a new head office in Breganze from Molvena. The new location is said to better facilitate the group’s needs and internal synergies.