Ralph Lauren Executive Geoffroy van Raemdonck is all set to succeed Karen Katz, who is retiring as the Chief Executive Office at luxury retailer Neiman Marcus Group.
Raemdonck will take the charge on February 12 this year while Katz, who has been associated with the luxury brand for almost three decades now, will continue to serve as the company’s Board of Directors for the time being.
Neiman Marcus had been hunting for a CEO for quite some time now; however, several top executives at other companies spurned its approaches, the Wall Street Journal reported. This (Raemdonck’s) appointment is a part of the long-term leadership succession planning process to ensure continued growth and evolution of the company.
During his tenure as the CEO, Katz introduced Neiman Marcus to new customers and deepened relationships with the company’s core shoppers, while Raemdonck played a vital role in the transformation of all Ralph Lauren-owned brands across stores, wholesale and digital formats. He is also known for his stint with St. John Knits International and Louis Vuitton.
Raemdonck’s experience is expected to make Neiman Marcus more attractive to younger shoppers. It is being said that the new CEO’s annual base salary will not be less than US $ 1 million.