Ralph Lauren executive Howard Smith resigns after violating company ethics
He has been with company for more than 19 years
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Your support makes all the difference.Ralph Lauren’s chief commercial officer has resigned after an investigation found he violated company ethics with his personal conduct.
The luxury brand said that Howard Smith would be resigning on Wednesday after the “audit committee of the board of directors launched an investigation with the assistance of outside counsel” and found that his conduct violated the company’s ethics and code of business conduct, CNBC reported.
According to Smith’s LinkedIn, he has worked for the company for more than 19 years, and was employed as Ralph Lauren’s executive vice president and chief commercial officer up until his resignation. He also previously worked for the company as its international group president and as the senior vice president of global supply chain.
Ralph Lauren did not provide additional details about Smith’s personal conduct, however, the Wall Street Journal reported that the brand’s board concluded the chief commerical officer’s resignation was necessary upon completion of the investigation.
The company also said that Smith’s resignation would be effective 2 April, but that he stepped down immediately, the Wall Street Journal reported.
In a letter written by Ralph Lauren and CEO and president Patrice Louvet, and shared with employees on 2 March, it said that the company was “saddened by this situation”.
“We are saddened by this situation and recognise 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,” the letter states.
The company also said that it should be known that “these issues do not concern the company’s financials or performance”.
The Independent has contacted Ralph Lauren for comment.
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