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Ralph Lauren Steps Down as CEO of His Fashion Brand

Ralph Lauren is stepping down as the CEO of his fashion empire.

The 75-year-old designer will be replaced by Stefan Larsson, the current president of Old Navy and a former H&M executive.

Ralph will still have a role in the company as executive chairman and chief creative officer.

“When they start designing things I can’t understand, I’ll quit,” he told the New York Times. “But I don’t feel like I’m stepping back now.”

“One of the biggest reasons for me to join is the opportunity to work side by side with someone like Ralph,” Stefan said. He will begin his role as CEO in November.

Celeb Central @ Waverly Inn

Sarah Jessica Parker (sans Matthew Broderick), Jennifer Connelly and hubby Paul Bettany were among the many big name celebrities to check out Vanity Fair supremo Graydon Carter‘s restaurant Waverly Inn in NYC’s West Village on Wednesday night.

The New York Observer calls Waverly Inn the “latest clubhouse to the rich and famous… a fashionable, exclusive, clublike restaurant.”

And according to Page Six, Interview editor Ingrid Sischy dined with Calvin Klein, who was seated at the table next to Ralph Lauren.

Said P6′s insider, “Ralph walked right up to Calvin and shook his hand.”

Pictured below: Jennifer Connelly, Paul Bettany, Sarah Jessica Parker, director Ron Howard, designers Calvin Klein and Ralph Lauren (with son David Lauren), and restaurateur Graydon Carter (with wife Cynthia Williamson).

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Photos of 'Ralph Lauren'

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