Jonathan Bottomley to lead enterprise-wide
marketing and Tom Mendenhall to head all men’s brand
functions
Ralph Lauren Corporation (NYSE:RL) today announces two
senior executive appointments, further solidifying its leadership
team in support of its Way Forward Plan.
Jonathan Bottomley has been named Chief Marketing Officer, a
newly created role for the Company. He will be responsible for
evolving Ralph Lauren’s brand voice, leading the global marketing
team and building cut-through marketing strategies across the
Company’s brands.
Tom Mendenhall has been named Brand President, Men’s Polo,
Purple Label and Double RL. In this newly created role, all men’s
brand functions will report into Tom, including design and
merchandising, and he will be charged with maximizing brand
strength to improve sales growth.
Ralph Lauren said, “As we write our next chapter, we continue to
add exceptionally strong leaders with the passion, energy, and
talent to lead our Company into the future. Both Jonathan and Tom
bring a fresh perspective and incredible depth of brand experience
to Ralph Lauren. They each have impressive track records and we are
looking forward to welcoming them into our leadership as our
evolution continues.”
Jonathan joins Ralph Lauren most recently from Vice Media, where
he served as Chief Strategy Officer. Prior to that, he was Chief
Strategy Officer and Managing Partner in the London headquarters of
Bartle Bogle Hegarty where he led strategic brand-building efforts
for clients across the luxury and consumer lifestyle sectors. He
will be a part of the Company’s Executive Team and dual report to
Valerie Hermann, President of Global Brands and Ralph Lauren,
Executive Chairman and Chief Creative Officer, on an interim basis.
He will then report to the new CEO, once that appointment is made.
Jonathan begins at the Company on April 3.
Tom joins Ralph Lauren from Tom Ford International, where he
served as Chief Operating Officer for more than a decade, working
alongside Tom Ford to build the brand from its inception. Prior to
that, Tom was a Senior Vice President at Abercrombie & Fitch.
He also spent eight years as Worldwide Director of Merchandising at
Gucci. Tom will report to Valerie Hermann, President of Global
Brands, and will begin with the Company on March 29.
Hermann added, “Jonathan and Tom will play critical roles as we
move forward in our evolution as a brand and Company. Jonathan’s
innovative, integrated approach will bring freshness and cohesion
to our iconic marketing efforts, while Tom’s proven experience and
recognized excellence in men’s will support our continued growth in
this category.”
ABOUT RALPH LAUREN
CORPORATION
Ralph Lauren Corporation (NYSE:RL) is a global leader in the
design, marketing and distribution of premium lifestyle products in
four categories: apparel, home, accessories and fragrances. For 50
years, Ralph Lauren's reputation and distinctive image have been
consistently developed across an expanding number of products,
brands and international markets. The Company's brand names, which
include Ralph Lauren Purple Label, Ralph Lauren Collection, Double
RL, Polo Ralph Lauren, Polo Sport, Polo Ralph Lauren Children’s,
Ralph Lauren Home, Lauren Ralph Lauren, RLX, Denim & Supply
Ralph Lauren, American Living, Chaps and Club Monaco, constitute
one of the world's most widely recognized families of consumer
brands. For more information, go to
http://investor.ralphlauren.com.
SPECIAL NOTE REGARDING FORWARD-LOOKING
STATEMENTS
This press release and oral statements made from time to time by
representatives of the Company contain certain "forward-looking
statements" within the meaning of the Private Securities Litigation
Reform Act of 1995. Forward-looking statements include statements
regarding, among other things, our current expectations about the
Company's future results and financial condition, revenues, store
openings and closings, employee reductions, margins, expenses and
earnings and are indicated by words or phrases such as
"anticipate," "estimate," "expect," "project," "we believe" and
similar words or phrases. These forward-looking statements involve
known and unknown risks, uncertainties and other factors which may
cause actual results, performance or achievements to be materially
different from the future results, performance or achievements
expressed in or implied by such forward-looking statements.
Forward-looking statements are based largely on the Company's
expectations and judgments and are subject to a number of risks and
uncertainties, many of which are unforeseeable and beyond our
control. The factors that could cause actual results to materially
differ include, among others: the loss of key personnel, including
Mr. Ralph Lauren, or other changes in our executive and senior
management team or to our operating structure, and our ability to
effectively transfer knowledge during periods of transition; our
ability to successfully implement our Way Forward Plan and
long-term growth strategy, which entails evolving our operating
model to enable sustainable, profitable sales growth by
significantly reducing supply chain lead times, employing best-in
class sourcing, and capitalizing on our repositioning initiatives
in certain brands, regions, and merchandise categories; our ability
to achieve anticipated operating enhancements and/or cost
reductions from our restructuring plans, which could include the
potential sale, discontinuance, or consolidation of certain of our
brands; the impact to our business resulting from potential costs
and obligations related to the early termination of our long-term,
non-cancellable leases; our efforts to improve the efficiency of
our distribution system and to continue to enhance, upgrade, and/or
transition our global information technology systems and our global
e-commerce platform; our ability to secure our facilities and
systems and those of our third-party service providers from, among
other things, cybersecurity breaches, acts of vandalism, computer
viruses, or similar Internet or email events; our exposure to
currency exchange rate fluctuations from both a transactional and
translational perspective; the impact to our business resulting
from increases in the costs of raw materials, transportation, and
labor; our ability to continue to maintain our brand image and
reputation and protect our trademarks; the impact to our business
resulting from the United Kingdom's referendum vote to exit the
European Union and the uncertainty surrounding the terms and
conditions of such a withdrawal, as well as the related impact to
global stock markets and currency exchange rates; the impact of the
volatile state of the global economy, stock markets, and other
global economic conditions on us, our customers, our suppliers, and
our vendors and on our ability and their ability to access sources
of liquidity; the impact to our business resulting from changes in
consumers’ ability or preferences to purchase premium lifestyle
products that we offer for sale and our ability to forecast
consumer demand, which could result in either a build-up or
shortage of inventory; changes in the competitive marketplace,
including the introduction of new products or pricing changes by
our competitors, and consolidations, liquidations, restructurings,
and other ownership changes in the retail industry; a variety of
legal, regulatory, tax, political, and economic risks, including
risks related to the importation and exportation of products,
tariffs, and other trade barriers which our international
operations are currently subject to, or may become subject to as a
result of potential changes in legislation, and other risks
associated with our international operations, such as compliance
with the Foreign Corrupt Practices Act or violations of other
anti-bribery and corruption laws prohibiting improper payments, and
the burdens of complying with a variety of foreign laws and
regulations, including tax laws, trade and labor restrictions, and
related laws that may reduce the flexibility of our business; the
impact to our business of events of unrest and instability that are
currently taking place in certain parts of the world, as well as
from any terrorist action, retaliation, and the threat of further
action or retaliation; our ability to continue to expand or grow
our business internationally and the impact of related changes in
our customer, channel, and geographic sales mix as a result;
changes in our tax obligations and effective tax rates; changes in
the business of, and our relationships with, major department store
customers and licensing partners; our intention to introduce new
products or enter into or renew alliances and exclusive
relationships; our ability to access sources of liquidity to
provide for our cash needs, including our debt obligations, payment
of dividends, capital expenditures, and potential repurchases of
our Class A common stock; our ability to open new retail stores,
concession shops, and e-commerce sites in an effort to expand our
direct-to-consumer presence; our ability to make certain strategic
acquisitions and successfully integrate the acquired businesses
into our existing operations; the potential impact to the trading
prices of our securities if our Class A common stock share
repurchase activity and/or cash dividend rate differs from
investors' expectations; our ability to maintain our credit profile
and ratings within the financial community; the potential impact on
our operations and on our suppliers and customers resulting from
natural or man-made disasters; and other risk factors identified in
the Company's Annual Report on Form 10-K, Form 10-Q and Form 8-K
reports filed with the Securities and Exchange Commission. The
Company undertakes no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20170216005415/en/
Ralph Lauren CorporationCorporate CommunicationsLindsay Knoll,
212-650-4401Lindsay.Knoll@RalphLauren.com
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