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RAPAPORT...
Tiffany & Co.'s shareholders elected Robert S. Singer to its board of directors. Eight incumbent directors were re-elected. Singer, 60, has held a variety of senior level corporate positions including that of chief financial officer of Gucci Group NV. Earlier in his career, he was a partner at accounting firm Coopers & Lybrand. He will chair Tiffany's audit committee and replaces J. Thomas Presby who has reached the mandatory retirement age. Michael J. Kowalski, Tiffany's chairman, said, "Bob Singer is a valuable addition to our board, bringing his global perspective about luxury retailing and his expertise in the field of auditing. We express our thanks and appreciation to Tom Presby for the years of guidance and many insights that he contributed to our board." Additionally, Tiffany's shareholders approved the appointment of PricewaterhouseCoopers LLP as the independent registered public accounting firm to audit the company's consolidated financial statements for the fiscal year ending on January 31, 2013 and also approved the retailer's "Say on Pay" proposal related to compensation paid to the company's named executive officers.
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