Ralph Lauren Stepping Down as CEO

Ralph Lauren with his Aston Martin DB5 Volante.

Ralph Lauren announced today that he will be stepping down as CEO of his company, handing the executive reigns over to Stefan Larsson, previously the global president of Old Navy. Ralph Lauren has been at the helm as both chief executive and designer since the company’s founding in 1967, so the importance of this announcement can’t easily be overstated. Lauren is a fashion icon, creating one of the most successful and recognizable brands, fashion or otherwise, in the world. He will continue working in the company as executive chairman and chief creative officer.