While the game of designer musical chairs is an ongoing and expected one, some changeovers come as a jolt. So here's one for you: Ralph Lauren is stepping down from his role as CEO of his namesake company.
He's not going anywhere, though. According to a release from the all-American brand, the 75-year-old designer will stay on as executive chairman and chief creative officer. Joining the company as CEO is Stefan Larsson, who hails from H&M and, most recently, Old Navy, where he was global president. (Gap Inc., which owns Old Navy, announced news of his departure on Tuesday afternoon as well.) And though Larsson is chief executive and will have a seat on the board, he's still reporting to Lauren. As we said, he's not really going anywhere.
Larsson will step into his new role in November.
Homepage photo: Instagram/@davidlauren