Italian footwear company Salvatore Ferragamo has announced that CEO Michele Norsa will leave his role by the end of the year.

Norsa has led the luxury goods maker since 2006 and news of his departure follows the announcement in March that creative director Massimiliano Giornetti had stepped down.

"Norsa has expressed the wish to prioritise family and to focus on new professional interests after a long period of intense efforts and rewarding results," the company said in a statement.

According to the company, Norse will remain part of the company in a non-executive capacity until the shareholders’ meeting to approve 2017 results, which is expected to take place in early 2018.

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