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PVH Corp. announces succession plan for Tommy Hilfiger Group

PVH Corp. announced additional details for the succession plan for Fred Gehring, currently CEO, Tommy Hilfiger and PVH International. Gehring will become chairman, Tommy Hilfiger and vice chairman, PVH Corp. by the end of FY14. The company had disclosed in July that it had entered into a new employment agreement with Gehring that provided for him to transition into this new role, which is part time, no earlier than mid-2014 and no later than mid-2016. In his new role with Tommy Hilfiger, Gehring will be involved in establishing the overall strategy of Tommy Hilfiger, as well as serve as an advisor to Daniel Grieder, who was named today as his successor. As vice chairman of PVH Corp., Gehring will serve as an advisor to Manny Chirico, PVH’s chairman and CEO on matters related to PVH. Upon Gehring’s transition to his new role, Grieder will be promoted to global CEO of the Tommy Hilfiger Group, while maintaining his role as CEO of PVH Europe.