Tommy Hilfiger set to swap CEO by mid-2014

PVH Corporation announced in a press release that

current CEO of Tommy Hilfiger, Fred Gehring is set to become company chairman and take on the new position of vice chairman of PVH by the end of the fiscal year 2014. This news follows the disclosure sent out in July, in which the company stated that a new employment agreement had been struck with Gehring that would help him progress into his new role no earlier than the middle of 2014.

The role of CEO at Tommy Hilfiger Group will go to Daniel Grieder, who has worked with the company since 1997. Grieder will also keep his current role as of CEO of PVH Europe alongside his new position. Gehring will help strengthen the overall goal of the brand and stay on as advisory to his successor in his new role as chairman. He will also serve as advisory to Manny Chirico, the Chairman and CEO of PVH. It was Gehring who spearheaded the expansion of Tommy Hilfiger into the European market fifteen years ago.

“Fred Gehring has been an exceptional partner since our acquisition of Tommy Hilfiger in 2010. Under his leadership, Tommy Hilfiger has consistently been a top performer among PVH Corp.’s portfolio of global lifestyle brands,” stated Chirico. He also added Grieder “ascension to global CEO of the Group is a natural progression,” one that will help the development of Tommy Hilfiger worldwide and push the Calvin Klein Europe branch forward.

The company also announced the appointment of two senior executives to lead the Tommy Hilfiger and Calvin Klein brands in Europe, to help the group’s continuing developing and integration scheme. Peter Schlagboermer is set to take on the role of president/brand management at Tommy Hilfiger Europe and Iris Epple will transition to role of President/Brand Management of Calvin Klein Europe. Both will be directly reporting to Daniel Grieder when he assumes his new role.