PVH Enters Into New Employment Agreement With Fred Gehring - Quick Facts

(RTTNews) - Apparel maker PVH Corp. (PVH) announced that it has entered into a new employment agreement with Fred Gehring, currently Executive Chairman, Tommy Hilfiger, and Vice Chairman, PVH Corp.

The company said the agreement provides for Gehring to resign as Executive Chairman, Tommy Hilfiger, and reflects the continued strong performance of the Tommy Hilfiger business under the leadership of Tommy Hilfiger CEO Daniel Grieder, which role Daniel assumed in July 2014.

Gehring will continue in his role of Vice Chairman, PVH, serving as an advisor to Manny Chirico, PVH's Chairman and Chief Executive Officer, and the PVH Board on matters related to PVH's business and growth strategies.

In connection with this change, Gehring will also step down as a member of PVH Corp.'s Board of Directors. The new agreement and arrangements are effective August 1, 2015, the company stated.