“As CFO, Jane has had a tremendous impact on Ralph Lauren, helping to guide our Company through a period of significant brand elevation and transformation. I am grateful for her leadership, and I look forward to continuing to partner with Jane in her role as COO,” said Patrice Louvet, President and Chief Executive Officer of Ralph Lauren Corporation. “Jane and I have been working closely with Justin for years on our ongoing financial strategy. Ralph, the Board, and I have the utmost confidence in our ability to, together, deliver strong growth and value creation.”
Ralph Lauren Corporation announces Justin Picicci as CFO, succeeding Jane Nielsen, who remains COO until the end of FY25.
This strategic succession ensures a smooth transition.
Picicci, with 18 years at the company, will lead global finance and investor relations and Nielsen will focus on operational responsibilities, to continue to drive the company’s growth.
“I am immensely proud of Ralph Lauren’s accomplishments in the last seven years, and looking ahead, I am thrilled to have Justin step into the CFO role. I look forward to a seamless transition and focusing on my operational responsibilities,” Nielsen said. “Justin’s deep and diverse experience at Ralph Lauren, combined with his passion for our brand, make him a natural CFO successor. I have no doubt that he will build on the strong foundation and successful financial strategy we’ve put in place over the last several years to deliver on our Next Great Chapter: Accelerate plan.”
Ralph Lauren is in a strong financial position as it executes its CFO succession plan. Over the last seven years, the Company has elevated its brand and become a significantly stronger and more profitable business. Operationally, the Company increased average unit retail (AUR) by more than 70%, repositioned its e-commerce business, and improved direct-to-consumer penetration by 10 points, now representing about two-thirds of the total business. Financially, Ralph Lauren’s overall adjusted operating income has increased by over 20%, adjusted EPS has grown by 80%, and the Company has built a fortress balance sheet.
As CFO, Picicci will drive financial strategy to deliver sustainable profitable growth and value creation, overseeing Ralph Lauren’s global finance organization and investor relations. He joined Ralph Lauren in 2006 and has held a range of senior finance leadership roles at the Company spanning corporate and commercial functions, including, most recently as Enterprise CFO, a role that was a part of the Company’s multi-year succession process. In this role, he was responsible for Ralph Lauren’s financial planning, accounting, tax, treasury, controllership, and global procurement. Picicci has also served as the Asia Pacific CFO, Global Company Controller and Head of Procurement, and North America CFO – giving him a comprehensive and deep understanding of the Ralph Lauren business globally.
“More than 18 years ago, I came to Ralph Lauren to work for a brand that I grew up with and admired, and to this day, I continue to be inspired by our Purpose and Ralph’s timeless vision that guides us and inspires consumers around the world,” said Picicci. “We are operating from a position of strength, fueled by incredible brand equity, and I, with Ralph, Patrice, Jane and our entire leadership team, will continue to deliver on our strategy.”
Picicci will continue to be a member of the Company’s enterprise leadership team and will report to Nielsen for the remainder of Fiscal 2025.
Note: The content of this press release has not been edited by Fibre2Fashion staff.
Fibre2Fashion News Desk (RM)