PARIS - Jean Paul Gaultier said today that president Eric Labaume is leaving the company “to dedicate himself to new professional goals.” A successor has yet to be named.
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Labaume, 54, joined Gaultier in April 2005 from Balmain and was charged with righting the French firm’s poor financial performance. Gaultier said in a statement that Labaume put into place a restructuring plan that helped the company reeling from heavy investments in retail stores, a new headquarters and its money-losing couture reach breakeven last year and is on target to be profitable this year.
In 2005, consolidated sales at Gaultier rose 7 percent to 28.7 million euros, or $36 million, according to the annual report of Hermes International.