TIFFANY’S APPOINTS ROGER FARAH AS CHAIRMAN
Tiffany & Co. has appointed Roger Farah, who joined Tiffany’s Board in March, as Chairman, effective October 2. According to IDEX Online, Farah, 64, served in leadership roles at Ralph Lauren Corporation, Venator Group, R.H. Macy & Co. and Federated Merchandising Services.
Tiffany’s also announced that Michael J. Kowalski, who has served as Chairman since 2002, will remain a director. He will relinquish the CEO title when the company’s newly-appointed CEO, Alessandro Bogliolo, joins in October.
Kowalski said: “Roger has significant experience as a leader in the luxury retail industry, and I and my fellow directors value tremendously his expertise and insight which have been apparent during his time on the Board. With the appointment of Alessandro as our new CEO, and under Roger’s leadership on the Board, I believe we are well positioned to execute on strategies to drive comparable store sales growth and stronger earnings growth in the longer-term”.