After 48 years in the role, Ralph Lauren has stepped down as head of the brand but will continue on as Executive Chairman and Chief Creative Officer
The brand’s founder, Ralph Lauren, has officially relinquished his role as Chief Executive Officer of the fashion and home décor empire, which he established nearly 50 years ago. Stepping in to replace him in the aforementioned capacity is industry heavyweight, Stefan Larsson, whose appointment takes effect in November 2015.
As well as assuming the position of CEO at the New York based company, the newly named head joins the Ralph Lauren Corporation board. He reports to Ralph Lauren, who will continue to actively drive the company’s vision and strategy as Executive Chairman and Chief Creative Officer.
Larsson most recently served as Global President of Old Navy, a division of Gap. Under his leadership, the brand enjoyed three consecutive years of growth, adding $1 billion in sales. Prior to the said stint, he served with H&M for 15 years, growing its sales from $3 billion to $17 billion and expanding its operations from 12 to 44 countries.
“My job is to think always about the future of our company and how to move it forward. Stefan Larsson is exceptionally talented and brings to our company a fresh, exciting global perspective. Stefan and I have a strong personal bond and share a vision for the future of Ralph Lauren,” said Lauren.
“We have had tremendous success expanding our brands worldwide and creating a great management team. Now, all the pieces are in place to position our business for continued growth. We have been a leader in our industry for nearly 50 years, and this is just the beginning.”