Ralph Lauren Makes Changes to Company Leadership

Ralph Lauren Purple Label S/S 2013 Campaign | Source: Ralph Lauren

NEW YORK, United States — Ralph Lauren Corp. announced a number of leadership changes Wednesday to help grow its business.

The New York-based luxury retailer said that it is creating an office of the chairman, which will be led by Chairman and CEO Ralph Lauren and include three other executives: Roger Farah, Jackwyn Nemerov and Christopher Peterson.

Farah, currently the president and chief operating officer, will become executive vice chairman of the company. Nemerov, currently executive vice president, will become president and COO. Peterson, currently senior vice president and chief financial officer, will become executive vice president and chief administrative officer in addition to CFO.

The office of the chairman is being created to “support the growth of the business in an increasingly complex global environment and capitalize on new business opportunities,” the company said in a statement.

Farah will be responsible for business development and mentoring the management team. Nemerov will focus on global merchandising, manufacturing and supply chain operations and Ralph Lauren’s global retail and licensing businesses. Peterson will oversee global real estate and financial planning.

Shares of the company slipped 11 cents to $168 in after-hours trading Wednesday. They rose $1.44 to close at $168.12 during normal trading hours.

Copyright (2013) Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.