PVH Corp, which owns Calvin Klein and Tommy Hilfiger, has hired a former Converse executive to lead its finance department.

Zac Coughlin has joined PVH from DFS Group.

DFS is the luxury travel retail business of LVMH Group, where Zac Coughlin served as group CFO and COO.

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Jim Holmes, who is presently serving as interim CFO, will continue to serve as executive vice president and controller.

Coughlin will report to PVH CEO Stefan Larsson.

PVH is the parent company of Calvin Klein, Tommy Hilfiger, Warner’s, Olga, and True & Co and is headquartered in Manhattan, New York, and has over 120,000 employees worldwide.

Mr. Holmes began his career at Ford Motor Company, where he held a number of worldwide finance leadership positions.

PVH CEO Stefan Larsson lauded Coughlin’s “strong business acumen, operational aptitude, and ability to cut through complexity” in a press release.

Michael Shaffer, the former PVH CFO and chief operating officer, left the company in September and was replaced by Coughlin.

Coughlin joins PVH at a time when the fashion giant is refocusing on its major brands, Calvin Klein and Tommy Hilfiger, and navigating a convoluted, unstable supply and demand environment.

PVH sold its Heritage Brands business and intellectual property to Authentic Brands Group last year to achieve this goal.

Izod, Van Heusen, and Arrow were among the brands represented in that unit, which had a combined history of more than a century.

Mr. Larsson said: “Zac brings over 20 years of high performance financial and operational leadership with best-in-class global companies.”

He continued “His deep strength in financial management and consistent track record of value creation has been built on his strong business acumen, operational capabilities and ability to cut through complexity.

“Zac’s leadership will be an important addition to our management team as we set out to build PVH’s next growth chapter.”

Source: CSA

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