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Companies & Markets

Ralph Lauren CEO to step down after disagreements with founder

Published Thu, Feb 2, 2017 · 01:49 PM
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[BENGALURU] Ralph Lauren Corp said Stefan Larsson, its chief executive for just over a year, will step down on May 1 following disagreements with chairman Ralph Lauren over the direction of the company.

The company also reported a 12 per cent fall in holiday quarter revenue to US$1.71 billion, hurt by a slump in wholesale shipments to customers as consumer demand weakened.

Ralph Lauren's shares fell 10 per cent to US$78.3 in premarket trading on Thursday.

REUTERS

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