Story
CFDA CEO Steven Kolb Resigns Following Physical Altercation with Protesters
Summary
Steven Kolb has stepped down as CEO of the Council of Fashion Designers of America after twenty years, following a widely publicized incident where he physically restrained animal rights activists at a New York Fashion Week show.
Steven Kolb has resigned as the chief executive and president of the Council of Fashion Designers of America (CFDA), the influential U.S. fashion industry trade group. The move comes just days after a video circulated online showing Kolb in a physical confrontation with animal rights protesters during a New York Fashion Week event.
In a post on his Substack, Kolb announced his departure after twenty years with the organization, calling it a "difficult decision." The CFDA's board, led by designer Thom Browne, stated in an Instagram post that it respected Kolb’s decision and thanked him for his service. The council has not yet named a successor.
The Runway Confrontation
The resignation follows an incident on Sunday during a runway show for COS, a brand owned by H&M. Activists from People for the Ethical Treatment of Animals (PETA) disrupted the show to protest the brand's use of wool.
According to videos of the event viewed by Reuters, Kolb physically intervened, grabbing at least two protesters. The footage showed him pinning one activist to the ground and covering her mouth with his hand. The incident prompted the CFDA to place Kolb on leave earlier this week pending a full board review.
AdApology and Industry Fallout
Following the confrontation, Kolb issued an apology on Monday, stating, "There is no justification for physically restraining another person. Security should have handled the situation, and I should have stepped back." He had also planned to meet with PETA, which had strongly condemned his actions.
The incident sparked a significant backlash within the fashion community and among advocacy groups. PETA stated on Sunday that Kolb's actions "show how top people in fashion use violence to silence people" advocating for animal rights. The CFDA board includes prominent designers such as Vera Wang, Ralph Lauren, and Michael Kors.
Read next
More on Stocks
Anthropic Pushes IPO Target to November Amid AI Safety Scrutiny
AI startup Anthropic is delaying its highly anticipated initial public offering to November, aiming to include third-quarter financials as the industry grapples with calls for a more cautious development pace.
Accenture Shares Jump on $1 Billion AI Safety Partnership with Anthropic
Accenture announced a major strategic partnership with AI lab Anthropic to advance AI model safety, sending its shares up over 7% in after-hours trading and overshadowing a midday stock downgrade.
Stifel Names Ondas Holdings Top Pick in Unmanned Systems Sector
Stifel analyst Jonathan Siegmann has designated Ondas Holdings (NASDAQ:ONDS) a top pick, citing its strategic acquisition of GATE Technologies and its key role in the expanding precision strike and drone markets.
Dollar Surges on Hawkish Fed Signals, Posts Best Weekly Gain in Three Months
The U.S. dollar recorded its strongest weekly performance in over three months as Federal Reserve indications of future rate hikes bolstered the currency. Analysts see continued support from a robust U.S. economy, though the potential for further gains is debated.