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Tiffany Names Ex-Ralph Lauren Exec Chairman
Sep 24, 2017 5:32 AM
By Rapaport News
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RAPAPORT... Tiffany & Co. has chosen longtime luxury executive Roger
Farah as its chairman, effective October 2, it announced Thursday.
Farah, 64, was a board member at Ralph Lauren from 2000 to
2014, where he also served as president and COO from 2000 to 2013, and later as
executive vice chairman. From September 2014, he was co-CEO of women’s clothing
brand Tory Burch.
Farah joined Tiffany’s board in March 2017 as part of an
agreement between Tiffany and JANA Partners, an activist shareholder that took
a stake of about 5% in the retailer. At
the time, current Tiffany chairman and former CEO Michael Kowalski said he
expected to pass the role on to someone else.
Kowalski, who has been interim CEO of Tiffany since the exit
of Frederic Cumenal in February, will also stand down from that position when
his replacement, Alessandro Bogliolo, joins the company in October.
“With the appointment of Alessandro as our new CEO, and
under Roger’s leadership on the board, I believe we are well positioned to
execute on strategies to drive comparable-store-sales growth and stronger
earnings growth in the longer term,” Kowalski said. |
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Tags:
Alessandro Bogliolo, Frederic Cumenal, JANA Partners, Jewelry, Michael Kowalski, Ralph Lauren, Rapaport News, retail, Roger Farah, Tiffany, Tiffany & CO., Tory Burch
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