Ralph Lauren’s CEO set to quit after disagreements with the ChairmanAccording to reports, the CEO of Ralph Lauren, Stefan Larsson is set to leave the post after just less than two years.
Ex-head of Gap’s Old Navy division, Mr. Larsson in late 2015 took the post of chief executive in Ralph Lauren.
Before that, Mr Lauren ran the firm for nearly 50 years before taken over by Mr Larsson.
Meanwhile the luxury fashion giant announced that it is already searching for a new chief executive.
“Stefan and I share a love and respect for the DNA of this great brand,” said Mr Lauren.
Furthermore Ralph Lauren also posted a 12% drop in holiday quarter revenue to $1.71 billion, after a collapse in wholesale deliveries to customers.
“This, in our view, is not the way to reinvent a brand that has clearly lost its way.”