Ralph Lauren Corporation (NYSE:RL, the “Company”) announced that Darren Walker, President and Chief Executive Officer of the Ford Foundation, has been nominated as an independent director for election at the Company’s 2020 Annual Meeting of Stockholders, to be held on July 30, 2020. The Company also announced that Dr. Joyce F. Brown and Robert C. Wright, after 19 and 13 years of service on the Board of Directors, respectively, will not stand for reelection for their terms set to expire at the end of July.
“When I met Darren in the fall, his strength of character, diverse experience and deep passion for positively impacting the world were powerfully apparent – and I knew we could deeply benefit from his perspective on our Board,” said Ralph Lauren, Chairman & Chief Creative Officer. “We look forward to working with him and the rest of our Board as we continue to build a Company that endures, thrives and makes a difference in the world for decades to come. I would like to thank both Joyce and Robert for their significant contributions and years of dedication and leadership to the Company.”
Patrice Louvet, President & Chief Executive Officer, said, “Darren’s nomination comes at a critical moment for global business, and we believe he will not only add to the wealth of our existing expertise, but bring new perspectives as we deliver value for all of our stakeholders around the world.”
Mr. Walker has served as the President and Chief Executive Officer of the Ford Foundation since September 2013. Notably, he chaired the philanthropy committee that brought a resolution to the city of Detroit’s historic bankruptcy, co-chairs NYC Census 2020 and serves on Governor Cuomo’s New York Forward Commission. Mr. Walker joined the Ford Foundation from The Rockefeller Foundation, where he most recently served as Vice President, Foundation Initiatives, overseeing global and domestic programs, including the Rebuild New Orleans initiative after Hurricane Katrina. Previously, he was the Chief Operating Officer for Abyssinian Development Corporation, and earlier in his career, he spent a decade in international law and finance at Cleary Gottlieb Steen & Hamilton and UBS.
Mr. Walker co-chairs New York City’s Commission on City Art, Monuments and Markers, and serves on the U.N. International Labour Organization Commission on the Future of Work. He also serves on the Board of PepsiCo and the Boards of a number of arts and culture institutions, including Carnegie Hall, Lincoln Center for the Performing Arts and the Smithsonian’s National Museum of African American History and Culture. He is a trustee of the National Gallery of Art.
“I have long admired Ralph and the Ralph Lauren Corporation, and I am deeply honored to have the opportunity to join the Company’s Board of Directors,” said Mr. Walker. “Ralph Lauren is an iconic, purpose-driven industry leader, and I welcome the opportunity to contribute to the Company’s continued success.”