Trending News

Blog Post

Market

Michael Kors owner names former Coach head Schulman as next CEO By Reuters 



© Reuters. FILE PHOTO: People walk by a Michael Kors store in Lakewood, Colorado June 1, 2016. REUTERS/Rick Wilking

(Reuters) – Michael Kors parent Capri Holdings (NYSE:) said on Tuesday luxury veteran Joshua Schulman would become its chief executive officer in September next year.

Shares in Capri rose 5% as analysts praised Capri’s decision to bring in the executive credited with a turnaround of Tapestry (NYSE:) Inc’s Coach brand, which he helmed from 2017 to 2020.

Schulman has also been appointed as the head of the Michael Kors brand, effective immediately, and will report to outgoing Capri CEO John Idol.

Schulman was the top boss at Jimmy Choo between 2007 to 2012, and has also held senior positions at Yves Saint Laurent, Gucci and other luxury brands.

“Schulman has a strong track record of driving Coach’s turnaround, and we believe the MK brand and CPRI are poised to benefit from his leadership,” Cowen analyst Oliver Chen said in a note.

Idol has been the CEO of Capri since December 2003, and will become the executive chairman in September next year.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





Source link

Related posts

Leave a Reply

Required fields are marked *