The man who succeeded Ralph Lauren as head of his eponymous clothing company is stepping down less than 18 months after taking the job.
“Stefan and I share a love and respect for the DNA of this great brand, and we both recognize the need to evolve,” said the 77-year-old Lauren, who stayed with the company as creative director and chairman. “However, we have found that we have different views on how to evolve the creative and consumer-facing parts of the business. After many conversations with one another, and our Board of Directors, we have agreed to part ways.”
Larsson will walk away with a $10 million severance package.