PVH, parent company to Calvin Klein and Tommy Hilfiger, has announced that Stefan Larsson, president, will be named chief executive officer, effective February 2021. Larsson will succeed Manny Chirico, the company’s CEO since 2006. Chirico will continue in his role as chairman of the board of directors. PVH is a leading apparel company in the US.
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.PVH, parent company to Calvin Klein and Tommy Hilfiger, has announced that Stefan Larsson, president, will be named chief executive officer, effective February 2021. Larsson will succeed Manny Chirico, the company's CEO since 2006. Chirico will continue in his role as chairman of the board of directors. PVH is a leading apparel company in the US.#
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, according to PVH.
Prior to joining PVH last year, Larsson was chief executive officer of Ralph Lauren, 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, 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 (H&M) sales from $3 billion to $17 billion and expanded the company’s operations from 12 to 44 countries.
As chairman of the board, Chirico will continue to lead the PVH board of directors and work with Larsson to ensure a successful transition.
“It has been a privilege to work side by side with Chirico in recent months, to learn first-hand how he has built PVH into one of the world’s most admired fashion and lifestyle companies, and driven impressive growth. It is an honour 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,” Larsson said.
“It has been an honour to work with the outstanding people at PVH for more than 25 years – 14 of those as CEO. With Larsson 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,” Chirico said.
“We can’t thank Chirico 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 Larsson 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 Larsson as CEO, the company will be well-positioned to continue to evolve and grow, building on the successful foundation that Chirico and the leadership team have set,” Henry Nasella, presiding director said.
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