Last night Ralph Lauren announced that come November he will officially step down as CEO of his eponymous label. After nearly 50 years at the helm, Lauren has made the decision to retire from his position and appoint Stefan Larsson chief executive officer. Larsson previously held the title of global president at Old Navy and before that was senior management at H&M. “Stefan brings something special,” Lauren told WWD. “Stefan has the sensitivity of design and of building a business and growing companies. That’s rare in our business. Usually, it’s one or the other.”
While Lauren will remain the executive chairman and chief creative officer of the brand, he is adamant that his move from CEO will not be simply ceremonial. “There is no toe in the water,” he adds. “I won’t be coming in two days a week.” Even Lauren’s son David, who currently works as executive vice president of the company and is a sitting board member, is excited to work with Larsson, approving of his father’s chosen CEO.
