While chief executive officers top the corporate hierarchy in retail, more and more are finding themselves unemployed amid dwindling sales. Although a glad-handing, public send-off seems to be the firing method of choice, outgoing ceo’s are often walking away with multimillion-dollar severance deals, making any forced words and toothy smiles much easier to take. Here, the vital stats on some of the recent departures in fashion.

Frederic Cumenal

Tiffany & Co.

Start Date: April 2014

Departure Announced: February 2017

The Goodbye: “The board is committed to our current core business strategies but has been disappointed by recent financial results.” — Michael J. Kowalski, chairman of the board of directors and interim ceo

The Golden Parachute: $4.1 million


Stefan Larsson

Ralph Lauren Corp.

Start Date: November 2015

Departure Announced: February 2017

The Goodbye: “We have found that we have different views on how to evolve the creative and consumer-facing parts of the business.” — Ralph Lauren, executive chairman and chief creative officer

The Golden Parachute: $10 million


Andi Owen

Global brand president, Banana Republic division of Gap Inc.

Start Date: January 2015

Departure Announced: January 2017

The Goodbye: “While [Andi’s] improvements have been important steps forward, we have significant work to do in order to consistently win with customers.” — Art Peck, Gap Inc. chief executive officer

The Golden Parachute: $2 million


Paolo Riva

Diane von Furstenberg

Start Date: May 2015

Departure Announced: November 2016

The Goodbye: “He’s a very nice man. He did the best he could, and I wish him the absolute best.” — Diane von Furstenberg, founder and board co-chair

The Golden Parachute: Unknown


Richard Lepeu

Compagnie Financière Richemont

Start Date: April 2013

Departure Announced: November 2016

The Goodbye: “It’s not possible for one individual to be ceo and this was highlighted to me by poor Mr. Lepeu, who ended up with 35 direct reports.” — Johann Rupert, board chairman and shareholder of reference

The Golden Parachute: Unknown


Isabelle Guichot

Balenciaga division of Kering

Start Date: 2007

Departure Announced: November 2016

The Rationale: “New responsibilities” planned but yet to be announced

The Golden Parachute: Unknown


Federica Marchionni

Lands’ End Inc.

Start Date: February 2015

Departure Announced: September 2016

The Goodbye: “[Federica’s] creative vision has helped Lands’ End begin its transformation as a global lifestyle brand….She is stepping down at this time, leaving Lands’ End well positioned to continue its evolution and capture the growth opportunities that exist for our iconic brand in this dynamic retail environment.” — Josephine Linden, board chairman

The Golden Parachute: $4.7 million


Dawn Robertson

Stein Mart Inc.

Start Date: March 2016

Departure Announced: September 2016

The Goodbye: “Some of the sales initiatives that have been developed under Dawn’s leadership are important for our future, and we will continue to cultivate them to drive sales in this challenging retail environment.” — Jay Stein, board chairman

The Golden Parachute: $1.6 million


Gian Giacomo Ferraris

Gianni Versace SpA

Start Date: June 2009

Departure Announced: May 2016

The Goodbye: “Ferraris has done a great job in realigning the company to prepare it for very ambitious goals.” — Donatella Versace, vice president

The Golden Parachute: Unknown


Michele Norsa

Salvatore Ferragamo Group

Start Date: 2006

Departure Announced: April 2016

The Goodbye: “[Norsa] has expressed the wish to prioritize family and to focus on new professional interests after a long period of intense efforts and rewarding results.” — Company statement

The Golden Parachute: Unknown


Sharen Turney

Victoria’s Secret division of L Brands Inc.

Start Date: 2000

Departure Announced: February 2016

The Goodbye: “After 16 years…at Victoria’s Secret, I have decided to prioritize my family and my personal life and consider what’s next for me professionally.” — Sharen Turney

The Golden Parachute: $50.7 million, including the value of stock awards


Herbert Hainer

Adidas AG

Start Date: March 2001

Departure Announced: January 2016

The Goodbye: “Under Herbert Hainer, Adidas has become one of the most sustainable corporations in Europe and one of the world’s most attractive employers.” — Igor Landau, supervisory board chairman

The Golden Parachute: Unknown


Change in Fashion’s C-suite: Fashion ceo’s are coming and going at a rate that’s finally in keeping with shifts in the market.

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