By Michael Tobin

Ralph Lauren Corp. (RL) said Friday that its President Valérie Hermann will be leaving the company effective Sept. 30. The fashion company didn't name her successor or mention a search to find one.

Ralph Lauren entered into a separation agreement with Ms. Hermann, who will receive $2.9 million, paid in the form of salary continuation over a one-year period and in the form of two lump sums. Ms. Hermann will also receive her yearly bonus for the 2020 fiscal year and the company will provide up to $300,000 to compensate her and her family's move to Paris, France.

Write to Michael Tobin at michael.tobin@wsj.com

(END) Dow Jones Newswires

July 19, 2019 17:17 ET (21:17 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
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