Exclusive: Abel-Hodges Named CEO of Calvin Klein

In a changing of the guard at Calvin Klein, Inc., Steve Shiffman has exited his role as chief executive officer and has been succeeded by Cheryl Abel-Hodges. The move is effective today. Most recently, Abel-Hodges, a 13-year veteran of parent company PVH Corp., was group president of Calvin Klein North America and The Underwear Group. In her new Calvin Klein global role, she reports to Stefan Larsson, the new PVH president, who began June 3. During an exclusive interview Sunday with Emanuel Chirico, chairman and chief executive officer of PVH, and Abel-Hodges, the two executives discussed the future of the Calvin Klein business and the opportunities for the brand, which is currently in a turnaround situation after the tumultuous tenure of Raf Simons, chief creative officer, who left abruptly in December after 28 months. Since that time, Calvin Klein has ceased production of the Collection business; closed its Madison Avenue flagship; seen the departure of Michelle Kessler-Sanders, president of Collection, and experienced numerous job cuts, including 50 employees in New York and 50 employees in Milan. PVH had invested between $60 million and $70 million in the Calvin Klein Collection (renamed Calvin Klein 205West39NYC) and said it would cost $150 million to restructure the business. In

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