Ralph Lauren’s CEO quits after less than two years at the helm, citing differences with founder
Stefan Larsson was hired to reorganise the luxury brand, but with no improvement in sales and reports of low company morale, he is stepping down
Ralph Lauren’s chief executive Stefan Larsson, hired over a year ago to turn the company around, will step down following differences with founder Ralph Lauren over the direction of the luxury brand.
Larsson, who was credited with reviving sales at Gap’s Old Navy brand and has also worked at H&M, was hired for his experience in managing fast-fashion businesses with efficient supply chains.
At the time, his appointment was considered a good fit for Ralph Lauren, which was seeking to reorganise and centralise business units and brands.
In his short tenure, Larsson embarked on a major overhaul of the company, calling it the “Way Forward Plan”, which included shutting down underperforming stores, cutting back on inventory and shedding about 1,000 jobs. But things soon went sour.