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CEO at Ralph Lauren departs

Associated Press logo Associated Press 2/2/2017
FILE - In this Sept. 29, 2015 file photo, designer Ralph Lauren, right, poses in his office with Stefan Larsson in New York. Larsson, CEO of Ralph Lauren Corp., will be stepping down from the post in May 2017, less than two years after taking over the role. Founder Ralph Lauren says he and Larson had different views on how to run parts of the business. Shares plunged 10 percent in Thursday, Feb. 2, 2017 premarket trading. (AP Photo/Jason DeCrow) © The Associated Press FILE - In this Sept. 29, 2015 file photo, designer Ralph Lauren, right, poses in his office with Stefan Larsson in New York. Larsson, CEO of Ralph Lauren Corp., will be stepping down from the post in May 2017, less than two years after taking over the role. Founder Ralph Lauren says he and Larson had different views on how to run parts of the business. Shares plunged 10 percent in Thursday, Feb. 2, 2017 premarket trading. (AP Photo/Jason DeCrow)

NEW YORK (AP) — Stefan Larsson, who took over as CEO for Ralph Lauren less than two years ago in hopes of revitalizing the iconic brand, is leaving the company.

Lauren, who said at the time that Larsson "understands what dreams are," says Larsson pushed the company in the right direction.

The two apparently split, however on how best to turn the company around. Lauren says the decision to part ways is mutual. Larsson will remain with the company until May.

Company shares, which have fallen more than 20 percent in the past year, plunged 10 percent before the opening bell Thursday.

The search for a new chief executive is underway.

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