Valérie Hermann to step down from Ralph Lauren

Ralph Lauren's president of global brands plans to leave the company. Valérie Hermann, who has been with Ralph Lauren Corp. since 2014 will depart from her role, effective September 30. A replacement has not been announced.

“Valérie Hermann has made the decision to step down from her role. We had an open dialogue about this, and together agreed to transition the team she has successfully put in place to drive our brand strategy forward," reads a company statement. "Valérie has made a valuable impact on our business, strengthening our luxury capabilities and playing a critical role in our brand elevation strategy.”

The executive joined Ralph Lauren as president of luxury collections before becoming global brand president of luxury and eventually president of global brands almost three years ago. Prior to her work with Ralph Lauren, Hermann spent six years as CEO of Saint Laurent and four years as director of women's ready-to-wear for Dior.

Business of Fashion reported that Hermann's separation agreement entails 2.9 million dollars in salary and severance, with up to an an additional 300 thousand dollars in expenses.