Ralph Lauren Announces Finance Leadership Changes

Ralph Lauren Corporation (NYSE: RL) announces the appointment of Justin Picicci as Chief Financial Officer (CFO), effective today. Jane Nielsen, who joined the Company as CFO in 2016 and has served as CFO and Chief Operating Officer (COO) since 2019, will remain the Company’s COO, continuing to lead key operational and strategy functions through the end of Fiscal 2025 (year ending March 29, 2025). Picicci’s appointment is part of a multi-year strategic succession plan to enable a seamless transition.

“As CFO, Jane has had a tremendous impact on Ralph Lauren, helping to guide our Company through a period of significant brand elevation and transformation. I am grateful for her leadership, and I look forward to continuing to partner with Jane in her role as COO,” said Patrice Louvet, President and Chief Executive Officer of Ralph Lauren Corporation. “Jane and I have been working closely with Justin for years on our ongoing financial strategy. Ralph, the Board, and I have the utmost confidence in our ability to, together, deliver strong growth and value creation."

“I am immensely proud of Ralph Lauren’s accomplishments in the last seven years, and looking ahead, I am thrilled to have Justin step into the CFO role. I look forward to a seamless transition and focusing on my operational responsibilities,” Nielsen said. “Justin’s deep and diverse experience at Ralph Lauren, combined with his passion for our brand, make him a natural CFO successor. I have no doubt that he will build on the strong foundation and successful financial strategy we’ve put in place over the last several years to deliver on our Next Great Chapter: Accelerate plan.”

Ralph Lauren is in a strong financial position as it executes its CFO succession plan. Over the last seven years, the Company has elevated its brand and become a significantly stronger and more profitable business. Operationally, the Company increased average unit retail (AUR) by more than 70%, repositioned its e-commerce business, and improved direct-to-consumer penetration by 10 points, now representing about two-thirds of the total business. Financially, Ralph Lauren’s overall adjusted operating income has increased by over 20%, adjusted EPS has grown by 80%, and the Company has built a fortress balance sheet.