Ralph Lauren Corporation has recently announced the resignation of its executive vice president and chief commercial officer, Howard Smith. The decision to part ways with Smith came after an internal investigation revealed conduct that was contrary to the company’s code of business and ethics. Effective April 2, 2022, Smith will step down from his position with immediate effect.
Upon receiving allegations about Smith’s personal conduct, the audit committee of the board of directors took swift action and initiated an independent investigation, enlisting the help of external legal counsel. Although specific details concerning the misconduct were not disclosed, the investigation concluded that Smith’s resignation was necessary due to breaches of the company’s code of conduct and ethics, as well as other policies.
Ralph Lauren’s chairman, Ralph Lauren, and CEO, Patrice Louvet, released a statement making it clear that Smith’s resignation should not be connected to the company’s financial reporting or overall business performance. Smith had been an integral part of the company since 2002, steadily climbing the corporate ladder over the course of 20 years. His previous roles included overseeing operations in the Asia-Pacific region and heading global sales for a two-year period before taking on his most recent position in New York.
Following Smith’s departure, regional leaders responsible for day-to-day business operations will report directly to CEO Patrice Louvet on an interim basis. This transition is designed to ensure a seamless continuation of the company’s activities while a permanent replacement for Smith is sought.
Ralph Lauren Corporation is determined to uphold its commitment to maintaining a code of business and ethics that prioritizes the well-being and integrity of all employees. The company places great emphasis on fostering a positive and professional work environment, and any violation of its policies will be promptly addressed and dealt with appropriately.
In the fashion industry, it is essential for companies to uphold strong ethical standards and cultivate a culture of respect and inclusivity. Ralph Lauren Corporation remains dedicated to excellence in these areas and is unwavering in its efforts to create a safe and supportive environment for employees and stakeholders. This recent development serves as a reminder of the significance of maintaining integrity within the workplace and holding individuals accountable for their actions.
For more information on Ralph Lauren Corporation’s commitment to ethics and integrity, please visit their official website: https://www.ralphlauren.com/about/our-values.
To learn more about the importance of ethical practices in the fashion industry, please visit this insightful article: https://www.vogue.com.au/fashion/news/fashion-and-ethics-why-the-fashion-industry-needs-to-embrace-sustainability/news-story/811062543cb84ef446e7f8b9f29ef057.
