RYU Apparel Inc. announced the resignation of Marcello Leone from his positions of CEO and President effective immediately. Mr. Leone will retain his seat on the Board of Directors and is further appointed Executive Chairman. The Board accepts the resignation while expressing significant gratitude to Mr. Leone for the creation and launch of the RYU brand over the last five years.

The Board appoints Mr. Cesare Fazari as Interim CEO, effective immediately. Mr. Cesare Fazari, founding partner of Northwood Developments, with over 30 years of experience in retail real estate developments, has been the seed Venture Capital investor in several public and private companies. He owns a vast portfolio of over one million sq/ft of RE holdings, including residential units, office spaces, commercial retail, industrial space and land.

Mr. Fazari is also involved in several charitable organizations, including The Breakfast Club of Canada, the Canadian Cancer Society and the Good Shepard Food Bank.