Tiffany Names Mark Erceg as Its Chief Financial Officer
September 13 2016 - 6:40AM
Business Wire
Tiffany & Co. (NYSE:TIF) has appointed Mark Erceg to become
its next executive vice president and chief financial officer,
responsible for the Company’s worldwide financial, indirect
procurement and information technology functions.
Mr. Erceg, 47, will be based in New York and will report to
Frederic Cumenal, chief executive officer. His appointment will
become effective on October 18, 2016. He replaces Tiffany’s former
chief financial officer who left the Company in May to pursue a
position at another company.
Previously, Mr. Erceg has been employed at Canadian Pacific
Railway Limited, where he has served as executive vice president
and chief financial officer since May 2015. From 2010 - 2015, he
was the chief financial officer for Masonite International
Corporation. He began his career at The Procter & Gamble
Company in 1992 where, over 18 years, he served in positions of
increasing responsibility in finance, market strategy, customer
response, general management and global investor relations.
“Mark brings an operational process orientation and a broad
financial, international and consumer brands background to
Tiffany,” said Mr. Cumenal. “As the new leader of our
multi-talented finance, procurement and information technology
organizations, his varied experience and global perspective will be
important as we continue to work toward strengthening Tiffany’s
luxury brand position around the world and enhancing our
profitability and productivity.”
Tiffany is the internationally-renowned jeweler founded in New
York in 1837. Through its subsidiaries, Tiffany & Co.
manufactures products and operates TIFFANY & CO. retail stores
worldwide, and also engages in direct selling through Internet,
catalog and business gift operations. For additional information,
please visit www.tiffany.com or call our shareholder information
line at 800-TIF-0110.
Forward-Looking Statements:
Statements contained in this document that are not statements of
historical fact, including those that refer to plans, assumptions
and expectations for brand position, profitability and
productivity, are forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995.
Forward-looking statements include, but are not limited to,
statements that can be identified by the use of words such as ‘work
toward,’ ‘strengthen,’ ‘enhance,’ ‘continue,’ ‘will,’ ‘expect,’
‘anticipate,’ ‘believe,’ and variations of such words and similar
expressions.
These forward-looking statements are based upon the current
views and plans of management, speak only as of the date on which
they are made and are subject to a number of risks and
uncertainties, many of which are outside of our control. Actual
results could therefore differ materially from the planned, assumed
or expected results expressed in, or implied by, these
forward-looking statements. While we cannot predict all of the
factors that could form the basis of such differences, key factors
include, but are not limited to: global macroeconomic and
geopolitical developments; changes in interest and foreign currency
rates; shifting tourism trends; regional instability, violence
(including terrorist activities) and weather conditions that may
affect local and tourist consumer spending; changes in consumer
confidence, preferences and shopping patterns, as well our ability
to accurately predict and timely respond to such changes; shifts in
the Company’s product and geographic sales mix; variations in the
cost and availability of diamonds, gemstones and precious metals;
changes in our competitive landscape; disruptions impacting the
Company’s business and operations; gains or losses in the trading
value of the Company’s stock, which may impact the amount of stock
repurchased; and our ability to successfully control costs and
execute on, and achieve the expected benefits from, our operational
and strategic initiatives. Developments relating to these and other
factors may also warrant changes to the Company’s operating and
strategic plans, including with respect to store openings, closings
and renovations, capital expenditures, inventory management, and
continuing execution on, or timing of, the aforementioned
initiatives. Such changes could also cause actual results to differ
materially from the expected results expressed in, or implied by,
the forward-looking statements.
Additional information about potential risks and uncertainties
that could affect the Company’s business and financial results is
included under “Risk Factors” and “Management’s Discussion and
Analysis of Financial Condition and Results of Operations” in the
Company’s Annual Report on Form 10-K for the fiscal year ended
January 31, 2016 and “Management’s Discussion and Analysis of
Financial Condition and Results of Operations” in the Company’s
quarterly reports filed on Form 10-Q in 2016. Readers of these
documents should consider the outlined risks, uncertainties and
factors in evaluating, and are cautioned not to place undue
reliance on, the forward-looking statements contained herein. The
Company undertakes no obligation to update or revise any
forward-looking statements to reflect subsequent events or
circumstances, except as required by applicable law or
regulation.
TIF – G
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version on businesswire.com: http://www.businesswire.com/news/home/20160913005412/en/
Tiffany & Co.Mark L. Aaron,
212-230-5301mark.aaron@tiffany.com
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