(Reuters) -Valentino CEO Jacopo Venturini has stepped down from the Italian luxury house, Women's Wear Daily reported on Thursday.

Valentino and Venturini reached a mutual agreement to terminate his employment and board roles, WWD reported, with Valentino saying the executive "has decided to take a break for personal reasons".

A Valentino spokesperson did not immediately respond to Reuters calls.

Valentino had said in June that Venturini was on sick leave, after media reports of his imminent departure from the business which reported a decline in revenue and profit last year.

Creative director Alessandro Michele, who joined Valentino in March last year from Gucci, is staying on in his role, WWD said, citing sources.

Valentino 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 in 2023, with a commitment to buy the rest by 2028.

Mayhoola last month denied a newspaper report that the two shareholders were considering selling Valentino. Kering declined to comment.