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Ralph Lauren’s Chief Commercial Officer Resigns

The resignation will be effective April 2

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According to a recent filing with the Securities and Exchange Commission, and a letter distributed to Ralph Lauren employees, the Chief Commercial Officer of Ralph Lauren (New York), Howard Smith, has resigned.

After an independent investigation, it was discovered Smith had violated the company’s code of business ethics and the company’s board called for his resignation.

“We are saddened by this situation and recognize that this news will come as a surprise. Howard has contributed significantly to the evolution of our company for the past 20 years, and we are grateful for that,” Ralph Lauren wrote in a letter to employees. “However, upon recently learning about allegations related to Howard’s personal conduct, our Board of Directors launched an independent investigation, which is its responsibility whenever such allegations are raised. Because the investigation revealed conduct that violated our Code of Business Conduct and Ethics and other policies, it was decided that Howard would resign. You should know that these issues do not concern the Company’s financials or performance.”

His resignation will be made official April 2.

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