PVH’s Zac Coughlin Stepping Down as CFO in Jump to SiriusXM

Core Viewpoint - Zac Coughlin, the CFO of PVH Corp., is leaving to join SiriusXM, with Melissa Stone stepping in as interim CFO [1][3][4] Company Transition - Coughlin will remain with PVH until the end of December and will participate in the third-quarter earnings call on December 4 [2] - The company has reaffirmed its revenue and profit guidance for the remainder of the year, providing some time to find a new CFO [2][6] Leadership Comments - CEO Stefan Larsson expressed gratitude for Coughlin's contributions, highlighting his role in advancing the PVH+ Plan and driving cost efficiencies [4] - Coughlin expressed pride in his role at PVH and optimism for the company's future under current leadership [4] Market Reaction - Investors reacted positively to the leadership change, with PVH shares declining only 3.2% to $73.67, resulting in a market capitalization of $3.5 billion [4] Analyst Insights - Analyst Tom Nikic noted that while C-suite turnover poses risks, the company's financial guidance remains unchanged, indicating low risk for current projections [5][6] - Nikic highlighted that the PVH+ Plan was largely developed before Coughlin's arrival, suggesting that the strategy is not solely attributed to him [5] - The stock is viewed as undervalued, trading at 7 times fiscal 2025 guidance, indicating potential for a significant re-rating if market conditions improve [7]