Tiffany CEO to retire in 2015

New York - Michael J. Kowalski, CEO of Tiffany and Co., will retire from the company effective March 31, 2015. Kowalski, who has been with Tiffany for 30 years and a member of the company’s board of directors since 1995, will continue to serve on the board in the role of non-executive chairman.

Tiffany has named Frederic Cumenal, currently the company’s president, to succeed Kowalski as CEO effective April 1, 2015. Kowalski, 62, joined Tiffany in 1983, became CEO in 1999 and assumed the role of chairman of the board in 2003.

Cumenal, 54, joined Tiffany in 2011 as executive VP with responsibilities for worldwide sales and distribution. In 2013, his responsibilities were expanded to include the design, merchandising and marketing functions, and he was promoted to president and appointed to Tiffany’s board of directors. Cumenal previously served at LVMH Group and Moet Hennessy.

Tiffany’s financial performance was mostly stable during Kowalski’s reign, including during the holiday 2013 season when many other retailers experienced difficulty due to weather and consumer caution.

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