- Prachi Singh |
Along with its third quarter results, Ralph Lauren Corporation also announced that Stefan Larsson, President and Chief Executive Officer, of the company will depart on May 1, 2017. The company will continue to execute its Way Forward Plan announced in June 2016 under the leadership of Chief Financial Officer Jane Nielsen until a new CEO joins the company.
Commenting on the development, Ralph Lauren, Executive Chairman and Chief Creative Officer, said in the company announcement, “Stefan and I share a love and respect for the DNA of this great brand, and we both recognize the need to evolve. However, we have found that we have different views on how to evolve the creative and consumer-facing parts of the business. After many conversations with one another, and our board of directors, we have agreed to part ways.”
“We have built a strong foundation for future growth, including strengthening our team, refocusing our brands, evolving our products and our marketing, improving our operations and reducing our costs. The Board and I are committed to the execution of the Way Forward Plan and continuing to move our business and iconic brand forward as we have done for the last 50 years,” Lauren added.