The fashion label Calvin Klein has recently announced two important changes on its board of directors: Tom Murry will leave his position as Chief Executive Officer (CEO) in July 2014 and Steve Shiffman will take the responsibility as CEO in his place.

After 17 years working at Calvin Klein, Tom Murry will transition to the position of the Executive Chairman and support the company from an advisory role. He will retire at the end of the fiscal year.  From July onwards, Steve Shiffman, presently President & Chief Commercial Officer of Calvin Klein, will be promoted to take over Murry’s old position as CEO.

Shiffman joined PVH, the corporation that controls the Calvin Klein brand, in 1992, after holding leadership positions in Buying and Merchandising with Macy’s. During his time at Calvin Klein, he has collected three decades of retail experience, overseeing global commercial operations and controlling the different retail markets and e-commerce businesses.

Together with several other brands, including Tommy Hilfiger, Calvin Klein belongs to the PVH Corp. It designs and markets women’s and men’s apparel and a range of other products that are manufactured and merchandised through an extensive network of licensing agreements and other arrangements worldwide.