x

Society

Tiffany CEO Quits Off Bad Results

February 6, 2017

NEW YORK — The CEO of Tiffany & Co. has stepped down amid concerns about the jewelry company’s financial performance.

The New York-based retailer announced Feb. 5 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.

Michael Kowalski, Chairman of the Board of Directors and previous CEO of Tiffany, will serve in the interim.

Tiffany’s board said that while Cumenal has helped position the company for success in the long term, it has been “disappointed by recent financial results,” according to a statement by Kowalski.

The company in November reported better-than-expected quarterly profit and revenue. But in January, it said that holiday sales were lower than it anticipated.

RELATED

WASHINGTON — The Supreme Court said Monday it will hear two cases seeking to hold social media companies financially responsible for terrorist attacks.

Top Stories

Columnists

A pregnant woman was driving in the HOV lane near Dallas.

General News

FALMOUTH, MA – The police in Falmouth have identified the victim in an accident involving a car plunging into the ocean on February 20, NBC10 Boston reported.

General News

NEW YORK – Meropi Kyriacou, the new Principal of The Cathedral School in Manhattan, was honored as The National Herald’s Educator of the Year.

Video

Sounds of Cyprus Performed Live in Times Square (Video)

NEW YORK – Talented artists Elena Chris, Peter Douskalis, and Alex Tasopoulos performed a concert of Cypriot music for New Yorkers and tourists in the center of the Big Apple, Times Square.

Enter your email address to subscribe

Provide your email address to subscribe. For e.g. abc@xyz.com

You may unsubscribe at any time using the link in our newsletter.