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Ralph Lauren poaches Procter & Gamble's Patrice Louvet for chief executive

Wednesday, May 17, 2017 6:33

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Ralph Lauren Corp (NYSE:RL) has poached Procter & Gamble (NYSE:PG) executive Patrice Louvet as its new president and chief executive.

Louvet, who mostly recently served as global beauty president at Procter, will begin on 17 July.

His appointment comes the group announced that chief executive Stefan Larsson was leaving following differences with founder Ralph Lauren over the direction of firm.

Larsson stepped down less than two years after he was taken on to help the company revive sales. He had previously steered a turnaround Gap’s largest division, Old Navy, and supported H&M in its growth.

Ralph Lauren said: “Finding the right partner to work with me to take us forward in our evolution has been my primary focus over the last several months and I am thrilled that Patrice is joining our talented team.”

The company reports its fourth quarter results on Thursday.

Story by ProactiveInvestors

Source: http://www.proactiveinvestors.com/companies/news/177930/ralph-lauren-poaches-procter-gamble-s-patrice-louvet-for-chief-executive-177930.html

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