Ralph Lauren Names Justin Picicci as New Chief Financial Officer
Justin Picicci Named Chief Financial Officer
Ralph Lauren Corporation has announced significant changes to its financial leadership team with the appointment of Justin Picicci as Chief Financial Officer (CFO), effective immediately. Jane Nielsen, who has been with the company since 2016, will continue to serve as the Chief Operating Officer (COO) until the end of Fiscal 2025.
Leadership Transition and Strategic Succession Plan
This leadership change is part of a multi-year strategic succession plan designed to ensure a seamless transition. Jane Nielsen, who has been both CFO and COO since 2019, will maintain her focus on operational and strategic functions through the end of Fiscal 2025, which concludes on March 29, 2025.
Patrice Louvet, President and CEO of Ralph Lauren Corporation, expressed his confidence in the new leadership arrangement:
“As CFO, Jane has had a tremendous impact on Ralph Lauren, helping to guide our Company through a period of significant brand elevation and transformation. I am grateful for her leadership, and I look forward to continuing to partner with Jane in her role as COO. Jane and I have been working closely with Justin for years on our ongoing financial strategy. Ralph, the Board, and I have the utmost confidence in our ability to, together, deliver strong growth and value creation.”
Jane Nielsen’s Contributions
Nielsen reflected on her tenure and the future transition:
“I am immensely proud of Ralph Lauren’s accomplishments in the last seven years, and looking ahead, I am thrilled to have Justin step into the CFO role. I look forward to a seamless transition and focusing on my operational responsibilities. Justin’s deep and diverse experience at Ralph Lauren, combined with his passion for our brand, make him a natural CFO successor. I have no doubt that he will build on the strong foundation and successful financial strategy we’ve put in place over the last several years to deliver on our Next Great Chapter: Accelerate plan.”
Ralph Lauren’s Financial Strength
Under Nielsen’s financial leadership, Ralph Lauren has significantly strengthened its financial position. The company has increased its average unit retail (AUR) by more than 70%, repositioned its e-commerce business, and improved direct-to-consumer penetration by 10 points. Financially, Ralph Lauren’s adjusted operating income has increased by over 20%, adjusted EPS has grown by 80%, and the company has established a robust balance sheet.
Picicci commented on his new role:
“More than 18 years ago, I came to Ralph Lauren to work for a brand that I grew up with and admired, and to this day, I continue to be inspired by our Purpose and Ralph’s timeless vision that guides us and inspires consumers around the world. We are operating from a position of strength, fueled by incredible brand equity, and I, with Ralph, Patrice, Jane, and our entire leadership team, will continue to deliver on our strategy.”
Picicci will remain a member of the company’s enterprise leadership team and will report to Nielsen for the remainder of Fiscal 2025.
