Lana Todorovich promoted at Ralph Lauren

Ralph Lauren is still shaking things up with their employee and business structure. In their latest move, Lana Todorovich, president of women's apparel and accessories, will be promoted to president of all wholesale categories.

Her new responsibilities will bring men's, children's, home, and baby under her jurisdiction.

Her move is seen as part of Ralph Lauren's massive restructuring plan which involves cutting costs and closing stores. They recently announced the closure of their Fifth Avenue Polo flagship store. The store was only in operation for three years.

The company is also seeking a new chief executive officer, with Stefan Larsson set to exit on May 1.

Larsson's strategy, known as The Way Forward plan, which includes renewed focus on collection likes Polo and speeding up their supply chain, will be left in place once he leaves.

Once considered one of the most powerful retail players in the world, Ralph Lauren has been struggling over the past several years. The company has cut hundreds of jobs over the past several years, and have seen declining revenues.

The current retail climate is tough, and the retail bubble seems to have burst as stores across all price points are facing store closures. With any luck, Larsson's plan will at least help Ralph Lauren get back on track.