Ralph Lauren is handing off his title as CEO of the fashion and home decor empire that he founded nearly 50 years ago. Stefan Larsson, the global president of Gap’s thriving low-price Old Navy chain, is replacing him in the role.
Speaking from his luxurious office in Midtown Manhattan, the iconic 75-year-old designer, born Ralph Lifshitz to Jewish immigrant parents, says that he’s not slowing down, but sees Larsson, 41, as a partner as the company spearheads future sales growth.
“I am here, and I am not leaving,” said Lauren. “Stefan is coming to the company because I really believe he’s going to be an interesting addition.”
The change is effective from November, and Larsson will report to Lauren who will continue to drive the company’s vision and strategy as executive chairman and chief creative officer.
— AP
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