From Fnno.com, this is the Financial News Network. I'm Kimberly Odom.
Ralph Lauren CFO Tracy Travis, will be leaving her position at Ralph Lauren Corp. effective July 30 and will be taking over as CFO at Estee Lauder Companies Inc. on August 20, 2012.
Travis has worked for a number of Fortune 500 consumer product companies during her career. During her time with Ralph Lauren, the company's annual revenue more than doubled and profits more than tripled. Its stock also has more than tripled, according to FactSet.
Estée Lauder's market valuation and revenue are each about 40% higher than those of Ralph Lauren.
Both internal and external candidates at Ralph Lauren will be considered on an interim basis. On this news, shares of the company are up 0.7% to $53.25. The stock has fallen 15% in the past three months.
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