– USA, NY – PVH Corp. (NYSE: PVH), parent company to Calvin Klein and TOMMY HILFIGER, today announced that Stefan Larsson, President, will be named CEO effective February 1, 2021, succeeding Manny Chirico, CEO since 2006, who will continue as Chairman of the Board of Directors.
As Chairman of the Board, Chirico will continue to lead the PVH Board of Directors and work with Larsson to ensure a successful transition.
“Stefan’s global experience, consumer focus, and high-performance track record – especially in this unprecedented time of disruption – are unparalleled assets for PVH to succeed in the ‘new normal’ that is taking shape across our industry,” he continued. “I am confident in Stefan’s unique abilities to lead PVH in its next chapter of growth and I look forward to continuing our close partnership as Chairman of the Board.” said Manny Chirico.
He added: “With Stefan as our next CEO, we are well-positioned to navigate the rapidly changing retail landscape, drive brand relevance and meet the needs of our consumers while positioning the company for long-term growth.”
For the past 16 months, Larsson and Chirico have worked closely together to develop near-term actions and long-term strategies that leverage the power of PVH. Together, they have focused on the company’s core strengths, connecting them to where the consumer is going, driving brand relevance and high performance to deliver long-term sustainable growth. Most recently, they have been navigating the company through the impacts of COVID-19, driving towards an accelerated recovery, and setting up the business for future success post-pandemic have been of utmost importance for the two of them.
On behalf of the Board of Directors, Henry Nasella, presiding director, said: “We can’t thank Manny enough for his exceptional leadership over the last 14 years as CEO and for his work in preparing a smooth CEO succession. It has been clear from the outset that Stefan is an outstanding leader, with a strong understanding of PVH’s business needs and growth opportunities, as well as the evolving dynamics across the consumer, retail and competitive landscape. With Stefan as CEO, the company will be well-positioned to continue to evolve and grow, building on the successful foundation that Manny and the leadership team have set.”
About Stefan Larsson
Larsson joined PVH in June 2019 in the newly created role of President, overseeing the company’s branded businesses and regions, and reporting directly to Chirico with the plan for him to succeed Chirico.
Larsson said, “It has been a privilege to work side by side with Manny in recent months, to learn firsthand how he has built PVH into one of the world’s most admired fashion and lifestyle companies, and driven impressive growth.” Larsson said. “It is an honor to become the leader of this exceptional company, and as we move into a new chapter of growth for PVH, I look forward to continuing its evolution, building on our inherent strengths, getting closer to the consumer than ever before, and working with an incredible team.”
Prior to joining PVH last year, Larsson was CEO of Ralph Lauren Corp., where he successfully refocused the company on what made it iconic, improved its performance and set the path for future growth. Before that, Larsson served as the Global President of Old Navy, a division of Gap Inc., and helped Old Navy deliver 12 consecutive quarters of profitable growth, adding $1 billion in profitable sales. Over nearly 15 years, Larsson was part of the team that grew Swedish retailer Hennes & Mauritz sales from $3 billion to $17 billion and expanded the company’s operations from 12 to 44 countries.
About Manny Chirico
Under Chirico’s leadership, PVH has transformed from a North America-based menswear company to one of the largest fashion and lifestyle companies in the world. He led three industry-leading acquisitions and integrations during this time, creating a truly global and diversified retail and supply footprint, a workforce of approximately 40,000 associates, and growing revenues from $1.4 billion prior to the Calvin Klein acquisition to almost $10 billion in 2019. Throughout this evolution, the PVH leadership team has emphasized the company’s values and commitments to corporate responsibility.
“It has been an honor to work with the outstanding people at PVH for more than 25 years – 14 of those as CEO,” Chirico said.
About PVH Corp.
PVH is one of the most admired fashion and lifestyle companies in the world. We power brands that drive fashion-forward – for good. Our brand portfolio includes the iconic Calvin Klein, TOMMY HILFIGER, Van Heusen, IZOD, ARROW, Warner’s, Olga and Geoffrey Beene brands, as well as the digital-centric True&Co. intimates brands. We market a variety of goods under these and other nationally and internationally known owned and licensed brands. PVH has over 40,000 associates operating in over 40 countries and $9.9 billion in annual revenues in 2019. That’s the Power of Us. That’s the Power of PVH.
For more information : https://www.pvh.com/
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