Ralph Lauren picks outsider to be next CFO

Ralph Lauren Corp on Monday named Procter & Gamble Co executive Christopher Peterson its new chief financial officer, effective Sept. 24, after Tracey Travis resigned in July to pursue other interests.

Peterson, 46, was most recently CFO of P&G's global household care division, where he was responsible for strategic planning and financial management of businesses with combined annual revenue of about $45 billion, Ralph Lauren said. He will report to Roger Farah, the apparel maker's president and chief operating officer.

When Ralph Lauren announced Travis' departure in July, the company said it was considering internal and external candidates to fill the CFO role. Robert Madore, senior vice president of finance, has been interim CFO since July 30.