New earthquake at Tiffany: resigns the number one of managers, Frederic Cumenal.
You could call it Tiffany & Choc. After the departure of creative director Francesca Amfitheatrof, replaced by Reed Krakoff, the CEO Frederic Cumenal has resigned with immediate effect. Michael J. Kowalski, chairman and former CEO of Tiffany assumed the position of interim CEO. The headhunters are already working to identify the successor of Cumenal. The decision was pushed by the same reason that caused the changing of the guard of the designer number one: the disappointing financial results. A company statement reaffirms the commitment to find the right path. By a strange coincidence, the announcement came a few hours before Lady Gaga made its appearance during the Superbowl in a movie signed Tiffany, and more, the company has created the silver oval ball awarded to the winner of the football game team. A completely different match was held instead in hushed rooms in Manhattan, home to the largest group of the world’s jewelery. Now Tiffany must find a way to return to go in goal. According to the company’s forecasts in 2017 profits are expected to decline by about 5%, while global net sales will decrease by a single-digit percentage. Federico Graglia
