The Board of Directors for clothing retailer Ralph Lauren (NYSE:RL) has welcomed a new member in David Lauren, the company's current Executive Vice President of Advertising, Marketing and Corporate Communications. Lauren is also the middle child of Ralph Lauren himself. The Lauren Family, LLC is currently a 10% owner of the company's stock.
In 2001, David Lauren joined the company as chief creative and marketing officer for the business's media and e-commerce sector. Since then, he has come to oversee global marketing and advertising for the Ralph Lauren Corp. Additionally, Lauren has become the president of the Polo Ralph Lauren Foundation, which supports advances in cancer care and education.
Ralph Lauren, who is also the company's Chief Executive Officer and Chairman, was quoted in the company press release as saying his son is a fitting pick for the board because he is a "passionate advocate for the Ralph Lauren brand and a uniquely talented creative leader. His marketing and advertising innovations have been invaluable to our growth, and his presence on the Board is an important step in the evolution of our Company." The board now has 13 members.
Fool contributor Caroline Bennett has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
More from The Motley Fool
Why Ralph Lauren Corporation Shares Jumped Last Month
Shares of the luxury retailer bounced back after the company posted better-than-expected earnings results.
Why Ralph Lauren, LendingClub, and FibroGen Jumped Today
Even though the market fell, these stocks gained ground. Find out why.
Why Ralph Lauren Shares Jumped Today
Reduced discounting helped boost profitability in the fiscal first quarter.