Ralph Lauren CEO Leaving After Creative Clash With Founder

The two executives had ‘different views on how to evolve’
Stefan Larsson will step down from Ralph Lauren in May

Ralph Lauren CEO Departing After Clash With Founder

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By Stephanie Hoi-Nga Wong

February 2, 2017 at 1:10 PM UTC

Updated on

February 2, 2017 at 3:01 PM UTC

Ralph Lauren Corp. abruptly announced that Chief Executive Officer Stefan Larsson will be leaving after a creative clash with the fashion brand’s founder, sending shares of the struggling company into a tailspin.

Larsson, who previously ran Gap Inc.’s Old Navy, will be departing Ralph Lauren on May 1 after less than two years on the job, the company said on Thursday. Larsson will get $10 million in cash severance and health benefits over the next two years.