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Ralph Lauren hires Old Navy head to replace him as CEO

Stefan Larsson, 41, brings experience of managing business at Gap and H&M

The fashion empire of Mr Lauren, who got his start designing neckties, includes some 25 brands including Polo, Club Monaco and Denim & Supply. His designs have been worn by Hillary Clinton, Gwyneth Paltrow and Johnny Depp.

New York

AMERICAN designer Ralph Lauren, who built a fashion powerhouse on luxury designs inspired by country club chic, announced on Tuesday he is stepping down as chief executive officer and named the head of Gap Inc's populist Old Navy brand to the position.

Ralph Lauren Corp,...

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