by Christopher Blomquist
Fred Gehring
Fred Gehring

PVH Corp. has entered into a new employment agreement with Fred Gehring, currently executive chairman, Tommy Hilfiger, and vice chairman, PVH Corp. The agreement allows Gehring to relinquish his role at Tommy Hilfiger and “reflects the continued strong performance of the Tommy Hilfiger business under the leadership of Tommy Hilfiger CEO Daniel Grieder” according to a company statement. Grieder became Tommy’s CEO in July 2014.

Gehring will continue as vice chairman at PVH and advise Manny Chirico, PVH’s chairman and CEO, and the PVH Board. He will also step down as a member of PVH Corp.’s Board.

“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,” said Chirico in a statement. “Daniel, who has been with Tommy for over 17 years, has worked with Fred, helping grow the European business and position the Tommy Hilfiger organization for long term growth. Daniel has done an outstanding job transitioning into the CEO role for the Tommy Hilfiger business over the last year, as well as integrating the Calvin Klein Europe business into PVH Europe, which he also leads. I am confident that he will continue to take Tommy Hilfiger to the next level.”

The changes take effect August 1, 2015.