After just two years at the helm at Ralph Lauren, CEO Stefan Larsson has come to the decision to party ways with the all American brand.
The Swedish businessman was the company’s first CEO, other than Ralph Lauren himself, having been enlisted in a bid to revive and refresh the brand, after creating success stories of H&M and GAP. Last spring, Larsson announced a”Way Forward” program to boost the brand, consisting of slashing costs, reducing the work force, closing stores and improving quality.
It is thought that his departure from Ralph Lauren comes after a series of disagreements with the founder, however, with reports suggesting they have different ideas on how to nurture the business back to success, after a disappointing 12% drop in revenue in the last quarter.
Speaking in a recent statement Lauren said:
“We both recognize the need to evolve. However, we have found that we have different views on how to evolve the creative and consumer-facing parts of the business.”
Larsson will step down from his position at the beginning of May and in the mean time the hunt for a new CEO will commence.