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Tiffany’s CEO Is Likely To Be Succeeded by Existing President

Chief Executive Officer Michael Kowalski may stepdown in 2015 after over 15 years working the luxurious jeweler, moving the reins.

Kowalski can surrender the President work while remaining to the table the Newyork, as chairman -based business claimed in a record. The 62-year-old, who started in 1983, became boss in 1999.

Cumenal, 54, was commonly viewed as Kowalski’s heir, David Schick wrote in a note to clients today. The handover shows a speed of management’s technique to refresh the jeweler, which has been putting fresh designs and updating shops, he explained.

“Mr. Kowalski, we believe, believed introducing freshness (including Mr. Cumenal himself) was vital,” Schick published. “It’s hard (but potent) for successful businesses or manufacturers to admit they don’t contain it all figured out.”

Schick suggests purchasing the shares.

David Schick His duties had recently been growing ahead of headline that was today’s. He was called leader after joining the organization in 2011 as executive vice president of sales and submission and his responsibilities were broadened to add merchandising design and advertising.

Cumenal that was “Frederic is ideally suited to succeed me as CEO, and we’ll proceed to work to make certain a seamless move,” Kowalski explained while in the assertion.

Tiffany, the world’s second-biggest luxury jewelry string, has not been unable to weather a broader retail slump by providing an affluent clientele to spend. That’s let prices are raised by the corporation and enhance its income. In-May, Tiffany published first-quarter earnings that realized rates that were analysts’ and improved its prediction for the year.