CEO of the Parent Company of Tommy Hilfiger Addresses Racial Injustice

The CEO of Tommy Hilfiger parent company PVH has vowed to ‘do better’ to boost corporate diversity and address social injustice.

“We need to do better from a recruiting point of view” and “when it comes to representation at leadership [and] management positions,” said Manny Chirico, CEO of PVH. PVH is also the parent company of Calvin Klein.

“We need to also focus on racial and ethnicity issues, as well, and get better representation in our executive ranks across the board,” said Chirico in a “Mad Money” interview this week.

“Over the next few months, we will come out with meaningful targets, and we will be accountable to ourselves and our stakeholders to meet those targets in the future,” he said.

America is being “ripped apart by systemic racism” and “we need to do better” as a corporation to address social injustice in the country, Chirico told Jim Cramer on Thursday.

The chief executive said, “We need to do better from a recruiting point of view, we need to do better from a training and development point of view and, most importantly, we need to do better when it comes to representation at leadership [and] management positions throughout PVH.”

Cramer had asked why it’s important for companies to take a stance during the current climate in the nation.

“As a country, as individuals and as a corporation we need to do better,” Chirico said. “We can do better, and we will do better.”

“We need to also focus on racial and ethnicity issues, as well, and get better representation in our executive ranks across the board.”

PVH said it would deliver a $100,000 donation to both the National Urban League and the NAACP Legal Defense and Educational Fund.

PVH also said it would match employee donations in North America to racial justice organizations.

“Talk is cheap, but we’ve embarked on a journey. We’re listening to our black associates” and “business resource group in PVH,” Chirico said.

“Over the next few months, we will come out with meaningful targets, and we will be accountable to ourselves and our stakeholders to meet those targets in the future.”

Disclaimer: We have no position in PVH Corp. (NYSE: PVH) and have not been compensated for this article.