PVH Corp. announced that it has entered into a new employment agreement with Fred Gehring, currently executive chairman, Tommy Hilfiger, and vice chairman of PVH Corp. Gehring will relinquish his role at Tommy Hilfiger, as the brand has demonstrated strong performance for the past year under the leadership of new CEO Daniel Grieder.
Gehring will continue in his role of vice chairman, PVH, where he will advise Manny Chirico, PVH’s chairman and chief executive officer, and the PVH Board on matters related to the company’s business and growth strategies. He will also step down as a member of PVH Corp.’s board of directors. The new agreement and arrangements are effective August 1, 2015.
Gearing and Grieder have worked together to help grow Tommy Hilfiger’s European business and to position Tommy Hilfiger for long-term growth. In the last year, as Grieder has transitioned into his new CEO role, he has also integrated the Calvin Klein business into PVH Europe, which he also leads.
Chirico said in a statement, “Fred Gehring has been an exceptional partner since our 2010 acquisition of Tommy Hilfiger. Under his guidance, Tommy Hilfiger has consistently been a top performer designer brand, and he has seen to the seamless transition of the Tommy Hilfiger leadership to Daniel Grieder.”