Stefan Larsson (businessman)

Stefan Larsson
Born 1974/1975 (age 43–44)[1]
Nationality Swedish
Alma mater Hanken School of Economics
Jönköping International Business School
Occupation Business executive
Salary US $16,196,875 (total compensation, 2017)[2]

Stefan Larsson (born 1974) is an American businessperson. After working for Old Navy and H&M, he was the chief executive officer (CEO) of the Ralph Lauren Corporation between November 2015 and May 2017. Larsson replaced the company's founder, Ralph Lauren, as CEO. Larsson reported to Lauren, who remains with the company as its executive chairman and chief creative officer.[3][4]

Early life and education

Born in 1974,[1] Larsson received a Master of Science in Business Administration jointly from the Hanken School of Economics in Finland and Jönköping International Business School in Sweden.[1]

Career

Old Navy

Larsson served as global president of Old Navy, part of The Gap's portfolio, from October 2012 to September 2015. He transformed Old Navy into Gap Inc.'s top performing business unit, achieving three consecutive years of profitable growth and better sales revenues than Banana Republic and Gap.[5] By offering trendy clothing at low prices and overhauling its global supply chain to increase speed to market, Larsson increased Old Navy's revenue by nearly $1 billion.[6][7]

Hennes & Mauritz

Larsson worked for the Swedish fashion company Hennes & Mauritz (H&M) for nearly 15 years, rising to the position of Head of Global Sales "with functional responsibility for about 2,300 stores and nearly all of its $17 billion in annual sales."[3][1] During that time, he was part of the executive team that increased annual revenues from $3 billion to $17 billion and expanded its operations from 12 to 44 countries. He also oversaw real estate, store design and construction.[8]

Ralph Lauren

On 29 September 2015, it was announced that Stefan Larsson would replace the company's founder, Ralph Lauren, as CEO in November. Lauren stayed on as executive chairman and chief creative officer.[3][9]

The Company and Stefan Larsson mutually agreed to part ways after Ralph Lauren stated they found themselves having different views on how to evolve the creative and consumer-facing parts of the business.[10]

In February 2017 it was announced that Larsson had agreed to leave his position as CEO effective May 1, 2017 due to differences with Lauren.[11] On the day of Larsson’s departure, the Ralph Lauren stock dropped -12% on NYSE.[12] He was replaced by Patrice Louvet.[13]

References

  1. 1 2 3 4 "Executive Profile* Stefan Larsson". bloomberg. Retrieved 30 September 2015.
  2. ↑ "Stefan Larsson Executive Compensation". Salary.com. Retrieved March 8, 2018.
  3. 1 2 3 TABUCHI, HIROKO; FRIEDMAN, VANESSA (29 September 2015). "Ralph Lauren, Creator of Fashion Empire, Is Stepping Down as C.E.O." NY Times. Retrieved 30 September 2015.
  4. ↑ Bracket, Ed. "Ralph Lauren leaving CEO post". usatoday.com. USA Today. Retrieved 30 September 2015.
  5. ↑ La Monica, Paul (30 September 2015). "Gap shares plunge after Old Navy chief leaves for Ralph Lauren". money.cnn.com. CNN. Retrieved 1 October 2015.
  6. ↑ Dziemianowicz, Joe (30 September 2015). "Meet Stefan Larsson, the Old Navy exec who's taking over at Ralph Lauren". nydailynews.com. New York Daily News. Retrieved 1 October 2015.
  7. ↑ Russell, Michell. "New CEO likely to focus on Ralph Lauren supply chain". just-style.com. Just Style. Retrieved 1 October 2015.
  8. ↑ Babcock, Gregory. "Everything You Need to Know About Ralph Lauren's New CEO, Stefan Larsson". complex.com. Complex Media Inc. Retrieved 30 September 2015.
  9. ↑ "End of an Era: Ralph Lauren Is Stepping Down as CEO of His Company". Esquire. 2015-09-29. Retrieved 2016-04-27.
  10. ↑ Rachel Abrams and Vanessa Friedman (February 2, 2017). "Tensions Between New and Old, Played Out at Ralph Lauren". The New York Times.
  11. ↑ Gensler, Lauren. "Ralph Lauren CEO To Depart Over 'Different Views' With Founder, Shares Tumble". Forbes. Retrieved 2017-02-02.
  12. ↑ "Shares of Ralph Lauren plunge as CEO leaves". CNBC. February 2, 2017.
  13. ↑ Badkar, Mamta (May 18, 2017). "Ralph Lauren adjusted earnings top estimates as it bridles discounts". Financial Times. United Kingdom. Retrieved May 18, 2017.
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