Tommy Hilfiger parent PVH Corp is promoting Daniel Grieder to global chief executive of the group, replacing Fred Ghering as he takes on a part-time chairmanship.
Ghering is expected to become chairman before PVH Corp reaches the end of its financial year in January 2015 when Grieder will move up.
Grieder joined the business in 1997 as a managing director, and is currently chief executive of PVH Europe, a role that he will retain.
Ghering will also keep his position as vice chairman of PVH Corp alongside his new role, which will see him advise Grieder on strategy.
Manny Chirico, chairman and chief executive of PVH, said Grieder’s promotion was “a natural progression”.
He added: “We believe our advance preparation for this internal succession plan, Fred’s continued active visionary involvement and Daniel’s operational excellence and leadership will ensure continuity in the development and growth of our Tommy Hilfiger businesses worldwide.”