OPERATIONS

Office Depot names CVS exec Mark Crosby as North America president

BY Dan Berthiaume

Boca Raton, Fla. – Office Depot Inc. has named retail veteran Mark Cosby as president, North America. Cosby, 55, most recently served as president of pharmacy at CVS Caremark. He will be a member of Office Depot’s executive committee and leadership team and report to Roland Smith, chairman and CEO of Office Depot.

Cosby joins Office Depot following a 30-year career at a number of leading retail chains. Prior to CVS, Cosby spent five years at Macy’s Inc., where he served in a number of executive roles, including president, stores.

Previously, Cosby served as president, full-line stores at Sears, Roebuck & Co. and COO and chief development officer at Yum Brands Inc.

Cosby "brings three decades of significant leadership experience at large and complex retail operations, including serving as president of three leading retail chains," said Office Depot chairman and CEO Roland Smith. "I believe Mark’s leadership style, skills and experience will enable him to quickly make a positive impact on our business."

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Changing of the guard at Tiffany & Co.

BY CSA STAFF

Tiffany’s long-standing CEO Michael J. Kowalski will retire from the company March 31, 2015. Kowalski, who has been a member of the company’s board of directors since 1995, will continue to serve as non-executive chairman.

The board has tapped Frederic Cumenal, currently the company’s president, as Kowalski’s successor; he will step up to the CEO role April 1, 2015.

Kowalski joined Tiffany in 1983, became CEO in 1999 and assumed the role of chairman of the board in 2003.

“I am immensely satisfied by what we have accomplished at Tiffany throughout the past 30 years, and I am confident that the company is superbly positioned for the future,” said Kowalski. “Frederic Cumenal is ideally suited to succeed me as CEO, and we will continue to work closely together to ensure a seamless transition. I look forward to continuing in the role of chairman of the board.”

Cumenal joined Tiffany in 2011 as EVP 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.

“This is an extraordinary company with a fantastic heritage and an exciting future. I am deeply honored to be selected as its leader and look forward enthusiastically to capitalizing on the many opportunities ahead,” said Cumenal.

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OPERATIONS

Tiffany CEO to retire in 2015

BY Dan Berthiaume

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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