MTMzMzc4NDk5NzExODcxNjE5Ralph Lauren is stepping down from his role as CEO of his namesake company.

He’s not going anywhere, though. According to a release from the all-American brand, the 75-year-old designer will stay on as executive chairman and chief creative officer. Joining the company as CEO is Stefan Larsson, who hails from H&M and, most recently, Old Navy, where he was global president. And though Larsson is chief executive and will have a seat on the board, he’s still reporting to Lauren. As we said, he’s not really going anywhere.

Larsson will step into his new role in November.

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