Tiffany has added three new independent directors to its board as it bows to pressure from activist investor Jana Partners. The jeweler on Tuesday said that Roger Farah, James Lillie and Francesco Trapani would be joining the board no later than March 6, increasing the board’s size to 13 from 10 members.
Category: Jewelry
Tiffany Stock Downgraded To Neutral From Buy At Mizuho After Abrupt CEO Departure
Tiffany & Co. shares were downgraded to neutral from buy at Mizuho Monday, after the company surprised investors with the news that Chief Executive Frederic Cumenal was stepping down with immediate effect.
Fumbling Retail CEOs Should Now Be Very Scared
Amid poor holiday seasons, lagging stock prices and angst about the long-term impact of the shift toward digital shopping, it appears retail CEOs are now on a very short leash. said Sunday that CEO Frederic Cumenal will step down effective immediately after less than two years on the job.
Tiffany & Co. CEO resigns amid company’s financial concerns
The New York-based retailer announced Sunday that Frederic Cumenal’s departure is effective immediately and the search has begun for a successor. Cumenal joined Tiffany in 2011 and was named its chief executive officer in April 2015.
Tiffany Gains as Wells Fargo Sees Improved Luxury Good Demand
Tiffany stock rose 1.70% to $81.92 in Friday’s trading session after Wells Fargo upgraded shares to “market perform” from “underperform” on signs of improving demand for luxury goods. The firm pointed to Richemont’s better-than-expected third-quarter sales , noting that the global luxury retail market appears to have bottomed in the first half of 2016.