The Board intends to nominate Ms. Ahrendts for election at the Annual Meeting of Stockholders, expected in August 2018.
“I am delighted to welcome Angela and Mike to the Board of Directors,” said Mr. Ralph Lauren, Executive Chairman and Chief Creative Officer. “Angela is an industry leader and innovator with deep expertise in luxury retail and an outstanding track record of growing global brands. Mike brings invaluable experience as a senior leader and board member, helping companies drive consumer engagement and growth. Their counsel will be incredibly valuable as we continue to build the future for our iconic brand.”
Patrice Louvet, President and Chief Executive Officer, said, “Angela and Mike are among the most respected leaders in the business. They each have driven strong growth and created superior value at some of the best-known brands in retail, and I know we will benefit greatly from their experience and fresh perspective as we continue to elevate our brand; evolve our product, marketing and shopping experience; expand our digital and international presence; and increase productivity.”
Ms. Ahrendts has served as Senior Vice President of Retail at Apple Inc., since May 2014. She oversees strategy, real estate and development, and operations of Apple’s physical stores, online store and contact centers. Ms. Ahrendts joined Apple from Burberry where she served as Chief Executive Officer and as a Director on the Board from 2006 to 2014, and led the company through a period of outstanding global growth. Previously, she was Executive Vice President at Liz Claiborne Inc., and earlier in her career served as President of Donna Karan International.
Ms. Ahrendts said, “I have admired Ralph and been inspired by his pure global lifestyle vision for many years. It is an honor to join this Board as he and Patrice continue to evolve and expand his incredible aesthetic.”