Ralph Lauren Steps Down as CEO

Source: Getty Images
Ralph Lauren has stepped down as CEO of his company, a position he has held for almost 50 years. He will remain active within the company acting as executive chairman and chief creative officer. Source: Conde Nast Archive/Corbis
Lauren appointed former Old Navy global president, Stefan Larsson, 41, to take over as CEO. Source: AP
The 75-year-old fashion icon spoke highly of his replacement and explained part of the reasoning behind appointing him the new CEO. Lauren spoke to WWD stating, “Stefan brings something special. 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.”
Larsson, who refers to Lauren as the “most iconic American fashion designer,” will take over the reins as CEO in November.