Billionaire Ralph Lauren is 75 years old and has been designing clothing under the Polo label since 1967. And he's not stopping. But Lauren is handing over day-to-day operations and entrusting the global business vision of his far-flung Ralph Lauren empire to Stefan Larsson. Larsson was most recently global president of Old Navy, the pride of an otherwise moribund Gap. Before that Larsson drove H&M, the Swedish retailer, to household name status around the globe. Larsson now takes over the job of CEO of the Ralph Lauren Corporation.
Polo and the other Ralph Lauren brands are decidedly more upscale brands than either Old Navy or H&M. But Larsson won't be going it alone at the new altitude. Ralph Lauren himself will still be Executive Chairman of the company. Lauren will also retain the title of Chief Creative Officer.
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