Jane Hamilton Nielsen has left New York luxury handbag and accessories retailer Coach to be chief financial officer at ailing Ralph Lauren, sources told The Wall Street Journal, but the rival has yet to publicly confirm.
Late on Wednesday Coach said that Nielsen had told the company that she would be “departing the company to pursue another opportunity,” but would stay into August to ensure a smooth transition. Andrea Shaw Resnick will be named interim CFO until a permanent appointment is made, and the company has enlisted Crist Kolder Associates to help find a permanent successor.
“During her tenure, Jane has played an important role as our leadership team’s finance partner and we wish her the best of luck as she embarks on her next chapter,” Coach’s chief executive Victor Luis said in a press release.
Sources told the WSJ that Nielsen would start her new job as CFO at Ralph Lauren on Sept. 6. She would have oversight of procurement, store operations, and information technology, one of the sources said. Nielsen would replace Robert Madore, who has been CFO since April 2015.
Stefan Larsson, Ralph Lauren’s new CEO, has been making other management changes as the company embarks on a new strategy that includes closing 50 stores and cutting 1,000 jobs. The retailer plans to refocus on core brands and reduce the time it takes to get products from design to stores to nine months from 15.