Calvin Klein CEO announces departure
The company confirmed that Donnelly will remain in an advisory role until 30 November 2022 to facilitate the transition. In the interim, Stefan Larsson, Chief Executive Officer of PVH Corp., will lead PVH Americas and Calvin Klein Global, working closely with the leadership of both organisations.
PVH will separate her responsibilities into two roles to strengthen the its "ability to execute its PVH+ Plan": a regional leadership role for PVH Americas and a global brand leadership role for Calvin Klein.
PVH is one of the world’s largest and most admired fashion companies, connecting with consumers in over 40 countries. The 140-year-old business owns brands including Calvin Klein, Tommy Hilfiger, Olga and True & Co.
Larsson commented: “In the current environment, it is critical to redouble our focus on execution to unlock the full potential of the Americas region and also to continue to grow the Calvin Klein brand globally. We will significantly improve our ability to execute the PVH+ Plan by splitting these roles and bringing on leaders with different skill sets who can devote their full attention to these important roles.“
“On behalf of everyone at PVH, I want to thank Trish for her strong commitment, hard work, and dedication to our people, brands, and businesses. She played a key role in helping navigate a challenging retail environment as we emerged from the height of the pandemic. She also brought together a very capable group of leaders in both organisations who are dedicated to driving the execution of the PVH+ Plan. We wish her the very best in her next chapter.”
Donnelly commented: “I am extremely proud of how the Americas and Calvin Klein teams have come together, and I deeply admire their passion for our brands and commitment to growing our businesses. I am thankful for the opportunity to work with so many fantastic, talented people and wish them every success in the future.”
PVH Corp. today reported its 2022 second quarter results, revealing a 8% dip in its revenue to $2.132 billion.
The company said it continued to experience supply chain and logistics disruptions globally and impacts from the COVID-19 pandemic in China, in addition to an increasingly challenging macroeconomic environment, particularly affecting its North America wholesale business.