Ralph Lauren Tells His Staff He's "Stepping Up" in Open Letter
“I am not stepping down, nor am I stepping back. I am stepping up.”
Ralph Lauren may be leaving his position as CEO of the company he founded more than 50 years ago, but the 75-year-old wants everyone to know that he isn’t going anywhere. “When they start designing things I can’t understand, I’ll quit. But I don’t feel like I’m stepping back now,” he told The New York Times earlier this week. Now the icon insists that not only is he staying on at the company, but he’s actually stepping up. Said Lauren in an open letter to employees, “I am not stepping down, nor am I stepping back. I am stepping up.”
Despite relinquishing his role as CEO, Lauren will be staying on at the company as executive chairman and chief creative officer. Stefan Larsson —- formerly of H&M and Old Navy fame — will succeed Lauren as chief executive officer as the company looks to turn around its stagnant earnings.
Lauren’s open letter can be read in its entirety below.
