Ralph Lauren President for Europe Howard Smith attends a photo shoot for the Vogue Foundation dinner as part of Paris Fashion Week – Haute Couture Fall / Winter 2018-2019 at the Musee Galliera on July 3, 2018 in Paris, France.
Julien Hekimyan | Getty Images
Ralph Lauren said on Wednesday that his executive vice president and chief commercial officer, Howard Smith, would resign as soon as the retailer learned of allegations of his personal behavior.
After learning of the allegations, the audit committee of the board of directors launched an independent investigation with the help of an external adviser, Ralph Lauren said in documents to the Securities and Exchange Commission.
The investigation revealed behavior that violates Ralph Lauren’s code of business conduct, ethics and other policies, it said.
Smith did not immediately respond to a request for comment.
Smith has been with the company for just under 20 years, according to his LinkedIn account, and has held various positions, including Ralph Lauren, vice president of logistics and senior vice president of global supply chain.
His profile page on Ralph Lauren’s corporate website was already blank on Wednesday morning.
Ralph Lauren stressed in the SEC document that the resignation is not related to his financial reporting and business results.
Ralph Lauren added that regional leaders, who are already monitoring day-to-day business, will report temporarily directly to CEO and President Patrice Louve.
This is the second retailer to lose a senior manager this week for misconduct. Cosmetics company Estee Lauder said Monday that it fired CEO John Demsey, days after he admitted a racist meme to a personal social media account.
Ralph Lauren, meanwhile, is taking a slight turn at Louve. In February, the retailer reported fiscal revenues for the third quarter that exceeded analysts’ expectations, thanks in large part to the CEO’s efforts to sell more goods at full prices.
Luxury retailers benefited greatly during the pandemic from the desire of wealthier consumers to scatter handbags, clothing and high-end accessories.