The New York-based company announced Tuesday that Stefan Larsson, the global president of Gap's low-price Old Navy chain, will take on the role. The change will be effective in 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.
As global president of Old Navy for three years, Larsson remade the business into a bright spot in Gap's portfolio. Prior to his tenure at Old Navy, Larsson was part of an executive team at Swedish cheap chic fashion chain H&M for 15 years that increased annual revenue from $3 billion to $17 billion. During that time, H&M's operations grew to 44 countries from 12.
http://www.foxnews.com/leisure/2015/09/29/ralph-lauren-to-step-down-as-ceo-larsson-named-successor/?intcmp=latestnews
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