Ralph Lauren names former Burberry CEO as new lead independent director
announced on Friday the appointment of Angela Ahrendts to the role of lead independent director as part of the American luxury brand's board of directors' transition phase.
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Ahrendts' appointment will be effective following her re-election as a director at the 2025 Annual Meeting of Shareholders, taking place on Thursday, July 31.
The executive has served on the Ralph Lauren board since August 2018 and is currently the finance committee chair and a member of the nominating, governance, and sustainability committee.
A luxury veteran, the executive previously served as CEO of Burberry from 2006 to 2013, before exiting the top spot at the British luxury brand for U.S. tech giant Apple, where she served on its executive team as senior vice president of retail and online stores. She left Apple in 2019.
Ahrendts succeeds Hubert Joly, who has served on the New York-based firm's board for 16 years, will not seek reelection.
Joining the company's board in 2009, Joly has served as lead independent director since 2021, and played a key role in the board's evolution, resulting in its broadened diversity of backgrounds, skills and experiences, according to a press release.
He currently sits on the company's talent, culture and total rewards and finance committees.
'We are proud to have a board comprised of deep, unique and differentiated experiences, all of which continue to contribute to our strength and durability as a business," said Patrice Louvet, president and chief executive officer, Ralph Lauren.
"I am grateful for Hubert's guidance over the years, particularly in helping drive our company's performance and transformation and I look forward to working closely with Angela in her expanded role."
Following Joly's departure, the Ralph Lauren board will be comprised of 11 directors.
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