Tiffany & Co's Kowalski To Step Down In March, Successor Named
July 21, 14
Kowalski has served as a member of the company's board for the past 19 years, and he will remain as non-executive chairman. Kowalski, who is 62-years-old, joined Tiffany in 1983.
He will be replaced by Frederic Cumenal, the company's current president, who will take over as CEO on April 1.
Cumenal, who is 54-years-old, joined Tiffany three years ago as executive vice president charged with taking care of worldwide sales and distribution. The company widened his responsibilities last year to include the design, merchandising and marketing functions. He was also promoted to president and appointed to Tiffany's board of directors.
Kowalski said, "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.
"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. I look forward to continuing in the role of chairman of the board."
Meanwhile, Cumenal commented, "This is an extraordinary company with a fantastic heritage and an exciting future."