The company also names Angela Ahrendts as new lead independent director as it prepares for its annual meeting
Ralph Lauren Corporation has revealed significant compensation increases for its top executives as the company caps off a strong fiscal year and transitions into a new phase of board leadership.
In a newly filed proxy statement, the brand disclosed that Ralph Lauren, Executive Chairman and Chief Creative Officer, earned a total of $24.2 million in the past fiscal year—up 22.6 percent from the year prior. His compensation included $11.2 million in incentive pay, $11 million in stock awards, and a $1.8 million base salary.
President and CEO Patrice Louvet earned $23.1 million, marking a 38.8 percent increase. His package included $13.5 million in stock awards, $8.1 million in incentive pay, and a $1.4 million salary.
The news arrives as the company concludes its “Next Great Chapter: Accelerate” strategy, which both Lauren and Louvet highlighted in a joint letter to shareholders. “We have proven resilience in our business model and remain focused on the opportunities across our brands, categories, channels and geographies,” the letter read, positioning the brand as well-poised for long-term growth.
The compensation updates accompany a leadership change in the boardroom. Former Apple and Burberry retail executive Angela Ahrendts will succeed Hubert Joly as lead independent director following the July 31 annual meeting. Ahrendts has served on the board since 2018, while Joly—credited with helping guide the brand’s strategic evolution—will step down after 16 years.
Under Louvet’s leadership, Ralph Lauren has seen a significant uptick in shareholder value, with stock rising 16.8 percent during the fiscal year ending March 31, and another nearly 20 percent since—bringing the company’s market cap to approximately $16 billion.
The board will be reduced to 11 directors following Joly’s exit, reflecting a continued tightening of the brand’s governance as it advances its long-term strategy.