Nearly 50 years after founding the iconic fashion and home decor company that bears his name, Ralph Lauren is stepping down as its CEO. Stefan Larsson, the global president of Old Navy, will take over the role in November, though Lauren will still oversee the company as its executive chairman and chief creative officer.
"My job is to think always about the future of our company and how to move it forward," Lauren said in a statement. "Stefan Larsson is exceptionally talented, and he will bring our company a fresh and exciting global perspective."
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