PVH Corp., the owner of globally renowned brands like Tommy Hilfiger, Calvin Klein, Van Heusen and Speedo among others, announced on Tuesday that Stefan Larsson will be its President with effect from 3 June 2019.
This is the first time, the company has created the new role of President.
The company announced that Larsson will be managing PVH’s branded businesses and regions. Besides, the brand CEOs and Regional Presidents will also be reporting to Larsson.
Larsson will be reporting to Emanuel Chirico, Chairman and CEO, PVH. With regard to this, Chirico has signed a new 5-year employment agreement with PVH.
More on the same, Henry Nasella, PVH Presiding Director, said “Signing of the new agreement by Chirico and appointing Larsson as the President will well-position PVH from a leadership and a management succession perspective to continue to execute our strategic plans well into the future.”
“Stefan’s talent and operational track record make him a strong addition to the PVH senior management team,” said Chirico.
Chirico’s confidence is not surprising considering Larsson during his previous tenure as CEO of Ralph Lauren helped the company scale new heights. Besides, for more than 15 years, he was part of the team that helped H&M increase its sales from US $ 3 billion to a whopping US $ 17 billion.
He also played a key role in enhancing H&M’s operation from 12 to 44 countries.
Expressing happiness over the new role, Larsson said “PVH is an exceptional company and owns some of the most iconic global lifestyle brands. I have long admired what Chirico and the PVH management team have achieved, with a history of successful, transformative acquisitions, exceptional brand building, reinvention and innovation, strong operating platforms and connection to its consumers. I am looking forward to this new responsibility.”