London-based designer Amanda Wakeley was forced out of her own company last week, the result of an ownership transition by banker Jason Granite, who bought the company from Saudi billionaire Walid Juffali on December 4. “I have been advised that I will be no longer required and have tendered my resignation which has been accepted with immediate effect,” Wakeley said in a statement last Thursday. “I shall leave the company today.” Wakeley, who launched her eponymous company in 1990 and quickly became known for her red-carpet-friendly pieces, wasn’t the only one to go — thirteen other staffers were dismissed owing to the management shake-up. That’s a brave move for the new CEO, disassociating the founding designer with her own label. However, Granite appointed Jo Rossell, Wakeley’s head designer since 2006 and previous designer of Reiss, to take over as head of creative design. Rossell’s first collection will debut in September for the spring/summer 2010 season.