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Tiffany Springs Surprise as CFO to Depart
May 15, 2016 8:30 AM
By Rapaport News
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RAPAPORT... Tiffany & Co.’s chief financial officer Ralph Nicoletti has
resigned after a two-year stint to join consumer goods company Newell Brands.
Nicoletti, who
joined Tiffany in April 2014, notified the company of his resignation effective
May 20 as he has decided “to accept a similar position at another company.”
Newell, which owns Sharpie markers and Rubbermaid containers, confirmed it
hired Nicoletti as its executive vice-president and CFO from June 8.
The move follows disappointing Tiffany results last year,
with revenue
missing the company’s own forecast and sales in the 2015 holiday season dropping
6 percent.
Tiffany said it “will conduct a search for successor” in a
Form 8-K filing with the U.S. Securities and Exchange Commission on May 13.
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Tags:
cfo, Jewelry, Newell Brands, ralph nicoletti, Rapaport News, retail, Tiffany, Tiffany & CO.
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