- Prachi Singh |
PVH Corp has entered into a new employment agreement with Fred Gehring, currently Executive Chairman, Tommy Hilfiger, and Vice Chairman, PVH Corp. The agreement provides Gehring to resign as Executive Chairman, Tommy Hilfiger since the Tommy Hilfiger business continues to perform well under the leadership of Tommy Hilfiger CEO Daniel Grieder.
Gehring will continue in his role as Vice Chairman, PVH, serving as an advisor to Manny Chirico, PVH’s Chairman and Chief Executive Officer, and the PVH Board on matters related to PVH’s business and growth strategies. In connection with this change, Gehring will also step down as a member of PVH Corp’s Board of Directors. The new agreement and arrangements are effective August 1, 2015.
“Under Fred’s guidance, Tommy Hilfiger has consistently been a top performer designer brand and he has seen to the seamless transition of the Tommy Hilfiger leadership to Daniel Grieder,” said Chirico, adding, “Daniel, who has been with Tommy for over 17 years, has worked with Fred, helping grow the European business and position the Tommy Hilfiger organization for long term growth. Daniel has done an outstanding job transitioning into the CEO role for the Tommy Hilfiger business over the last year, as well as integrating the Calvin Klein Europe business into PVH Europe, which he also leads.”