MILAN (Reuters) -Italian fashion house Valentino has appointed industry veteran Riccardo Bellini as new chief executive, it said on Wednesday, adding he will take up the role at the start of September.

Bellini, who has been working as managing director of leading Valentino investor Mayhoola, replaces Jacopo Venturini whose departure was announced last week.

"I am honored to join Valentino, an iconic maison that blends extraordinary heritage and craftsmanship with a unique creative voice," Bellini said in a statement.

Bellini previously served as CEO of luxury brands Maison Margiela and Chloé, and held business and marketing leadership roles at Diesel and Procter & Gamble.

Valentino, founded in Rome in 1960 by Valentino Garavani and Giancarlo Giammetti, is part-owned by French luxury conglomerate Kering, which bought a 30% stake in the label from Qatari fund Mayhoola for 1.7 billion euros ($1.98 billion) in 2023, with a commitment to buy the rest by 2028.

Last month, Mayhoola denied a newspaper report that the two shareholders were considering selling Valentino. Kering declined to comment at the time.

($1 = 0.8572 euros)

(Writing by Keith Weir, editing by Gavin Jones)