"It's been beautiful to see our vision forSavage X Fenty impact the industry at such an incredible magnitude over the last five years," Rihanna, 35, said. "This is just the beginning for us, and we're going to continue to expand in ways that always connect with the consumer."
The "Life Me Up" singer will be replaced by Hillary Super, a former CEO of Anthropologie Group.
"I'm so grateful and excited to welcome Hillary Super as our new CEO -- she is a strong leader and is focused on taking the business to an even higher level," Rihanna told Vogue Business.
Super, meanwhile, expressed her excitement about stepping in as CEO.
"I'm thrilled to join the Savage X Fenty family," she said. "The brand is a major powerhouse in the lingerie and apparel industry, and its unwavering commitment to celebrating inclusivity and fearlessness is inspiring."
Rihanna founded Savage X Fenty in 2018. Although she's stepping down as CEO, the Grammy winner will stay with the company as executive chair.
Per Vogue Business, Rihanna will officially change positions on June 26.