Russell Simmons has stepped down as CEO of Phat Fashions, the company he founded in 1992, that launched the popular Phat Farm brand of clothing.Simmons sold Phat Fashions to Kellwood for $140 million in cash in January of 2004, but stayed on as CEO, managing the day-to-day operations of the company, including the marketing of the Phat Farm and Baby Phat lines of clothing.
