2017 may be barely a month old, but retail CEO departures already have been shaking up the industry. Now, Ralph Lauren CEO Stefan Larsson has announced he will be stepping down from his position in May 2017. His departure was a mutual decision between Larsson and Executive Chairman and Chief Creative Officer Ralph Lauren, attributed to conflicting views.
Larsson was appointed CEO in October 2015 after Lauren stepped down. He joined the company after serving as Global President of Old Navy.
“Stefan and I share a love and respect for the DNA of this great brand, and we both recognize the need to evolve,” said Lauren in a statement. “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. I am grateful for what Stefan has contributed during his time with us, setting us in the right direction with the Way Forward Plan.”
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While the company begins searching for Larsson’s replacement, it will continue to execute the Way Forward Plan to deliver sustainable, profitable sales growth and long-term value creation for shareholders. The Plan was announced in June 2016 in an effort to revitalize the core brand and “be more in tune with the consumer,” according to Forbes. CFO Jane Nielsen will step in to lead the execution of the Plan until a new CEO joins the company.
“In June, we announced a plan to refocus the Company on what made it iconic, evolve that for today and build our brand to its full potential,” said Larsson in a statement. “That plan is on track — I am proud of the progress the whole team has made and I am committed to ensuring its uninterrupted execution. Ralph will always be an inspiration to me, and I am grateful to have had this experience.”
2017 kicked off with numerous announcements of CEOs stepping down from their roles. Recently, Linda Heasley, CEO of Lane Bryant and Catherine’s, parted ways with the company. In early January, Sam’s Club CEO Rosalind Brewer and Christopher & Banks CEO LuAnn Via also announced their departures.
