Farah Retiring from Ralph Lauren
Roger Farah, Ralph Lauren Corp.’s executive vice chairman, will retire at the end of this month but stay with the company board until the end of his term in August.
Farah stepped down from his longtime role as president and chief operating officer in September last year, replaced by EVP Jackwyn Nemerov. At that time, the company created an Office of the Chairman, of which Farah was a part. With his departure, the Office will consist of chairman and CEO Ralph Lauren, Nemerov, EVP/CAO/COO Chris Peterson and president of Ralp Lauren Luxury Collections Valérie Hermann.
“Roger is a spectacular leader, trusted advisor and a good friend,” said Lauren. “I am tremendously grateful for his important contributions to the growth of this company. During his tenure, Roger helped us assume direct control of our most strategically important regions and merchandise categories, evolving our company into a highly profitable, global business. He’s cultivated an impressive team of leaders who are ready to build on the strong foundation he has established. I wish Roger and his family all the best.”
Farah added, “The last fourteen years have been among the most rewarding of my career. It has been an honor to work with Ralph and the team. I am very proud of what we accomplished, and I am excited to watch the company evolve as it pursues its many compelling growth opportunities. I am confident that the leadership team, under Ralph’s guidance and vision, is well prepared to execute the next phase of the company’s development and continue to create significant value for its shareholders.”
In other news, Ralph Lauren reported a double-digit boost in fourth-quarter profit, but issued what one analyst has described as “concerning” revenue guidance for fiscal 2015.
