Coach Chief Financial Officer Resigns
June 08 2016 - 5:42PM
Dow Jones News
By Lisa Beilfuss
Coach Inc. said Wednesday that Chief Financial Officer Jane
Nielsen has resigned to pursue another opportunity, leaving a spot
that will be temporarily filled by the handbag company's head of
investor relations.
Ms. Nielsen, CFO since 2011, will stay on into August, Coach
said. The company said it has launched a search for her permanent
successor.
Meanwhile, Andrea Resnick, global head of investor relations and
corporate communications will be appointed as interim CFO. Ms.
Resnick is a 30 year veteran of the company.
In a statement, Chief Executive Officer Victor Luis praised Ms.
Nielsen's tenure and Ms. Resnick's experience at the company.
The CFO shake-up comes as the company continues to turn itself
around. After nearly three years of declining revenue in its home
market, the company in April said domestic sales edged up 1% in the
first quarter.
As part of its turnaround, the company recently said it would
cut about 10% of its corporate workers and shuffle its management
ranks. In April, Coach announced the departure of Gebhard Rainer,
president and chief operating officer, and the promotion of Andre
Cohen to president of North America and global marketing.
Shares in the company, up 20% this year, slipped 0.6% in
after-hours trading.
Write to Lisa Beilfuss at lisa.beilfuss@wsj.com
(END) Dow Jones Newswires
June 08, 2016 17:27 ET (21:27 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
Tapestry (NYSE:TPR)
Historical Stock Chart
From Mar 2024 to Apr 2024
Tapestry (NYSE:TPR)
Historical Stock Chart
From Apr 2023 to Apr 2024
