“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 look forward to continuing to collaborate with Jane in her role as COO,” he said. Patrice Louvet, President and CEO of Ralph Lauren Corporation. “Jane and I have been working closely with Justin for years on our current financial strategy. Ralph, the Board of Directors and I have the utmost confidence in our ability to, together, deliver strong growth and value creation.”
Ralph Lauren Corporation announces Justin Picicci as Chief Financial Officer, replacing Jane Nielsen, who will remain Chief Operating Officer through the end of FY25. This strategic succession ensures a smooth transition. Picicci, with 18 years with the company, will lead global finance and investor relations and Nielsen will focus on operational responsibilities, to continue driving the company's growth.
“I am immensely proud of Ralph Lauren's achievements over the past seven years and, looking ahead, I am delighted to have Justin take on the role of CFO. “I look forward to a seamless transition and will focus on my operational responsibilities.” nielsen saying. “Justin’s deep and diverse experience at Ralph Lauren, combined with his passion for our brand, make him a natural successor to the CFO. I have no doubt that he will build on the strong foundation and successful financial strategy we have implemented over the past few years to deliver on our next big chapter: the Accelerate plan.”
Ralph Lauren is in a strong financial position as it executes its CFO succession plan. Over the past seven years, the Company has elevated its brand and become a significantly stronger and more profitable business. Operationally, the Company increased average retail units (AUR) by more than 70%, repositioned its e-commerce business and improved direct-to-consumer penetration by 10 points, which now represents around two-thirds of the total business. Financially, Ralph Lauren's overall adjusted operating income is up more than 20%, adjusted earnings per share is up 80%, and the company has built a strong balance sheet.
As CFO, Picicci will drive financial strategy to achieve sustainable profitable growth and value creation, overseeing Ralph Lauren's global financial organization and investor relations. He joined Ralph Lauren in 2006 and has served in a variety of senior financial leadership roles at the company, spanning corporate and commercial functions, including, most recently, corporate finance director, a role that was part of the multi-year succession process. of the company. In this role, he was responsible for Ralph Lauren's financial planning, accounting, taxes, treasury, controllership and global procurement. Picicci also served as Asia Pacific CFO, the company's global controller and head of acquisitions, and North America CFO, giving him a comprehensive and deep understanding of Ralph Lauren's business globally.
“More than 18 years ago, I came to Ralph Lauren to work for a brand I grew up with and admired, and to this day, I continue to be inspired by our Purpose and Ralph's timeless vision that guides us and inspires consumers. of all the world. world,” Picicci said. “We are operating from a position of strength, driven by incredible brand equity, and I, along with Ralph, Patrice, Jane and our entire leadership team, will continue to deliver on our strategy.”
Picicci will remain a member of the company's business leadership team and will report to Nielsen for the remainder of fiscal 2025.
Note: The content of this press release has not been edited by Fibre2Fashion staff.
Fiber2Fashion News Desk (RM)
