Tiffany & Company CEO, Michael Kowalski Retiring in 2015

Tiffany & Company CEO, Michael Kowalski Retiring in 2015

Tiffany & Co. CEO Retiring in 2015

Tiffany & Company has had quite the year from a lawsuit with Swatch, which they lost, an executive stole over $1 million dollars worth of merchandise, and now Michel Kowalski, Tiffany’s CEO is set to retire on March 31st, 2015. 

Michael Kowalski is an active member on the board of directors, and will continue to serve as an non-executive member. The successor for the new CEO position though is Frederic Cumenal, the president of the international luxury jewelry retailer. Frederic, 54 has been working for Tiffany & Co. since 2013 where he dealt with sales and distribution, served as a newly created board position for the company.

Kowalski, 62 has been with Tiffany & Company since 1983, and has been CEO since 1999. By 2003 he became the chairman on the board of directors. I am immensely satisfied by what we have accomplished at Tiffany over the past 30 years, and I am confident that the company is superbly positioned for the future,” Kowalski said. “Frederic Cumenal is ideally suited to succeed me as chief executive officer, and we will continue to work closely together to ensure a seamless transition.”

Prior to jewelry Cumenal worked with LVMH Group’s wine and sports. Frederic Cumenal recently served as president and CEO of Moët & Chandon, S.A. And even before that he was CEO of Domaine Chandon, and managed Moët Hennessy Europe.

Cumenal has dabbled in expensive companies for quite some time, we think he will do extraordinary for the company, and hopefully a nice turn around for them will be visible.

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