|Luxury jeweler Tiffany & Co. has announced that the Company's Board of Directors has elected Roger Farah as Chairman, effective October 2nd. The 64 year-old Farah takes over the position from Michael J. Kowalski, who has served as Tiffany's Chairman since 2002.
Farah joined Tiffany's Board in March 2017. He has served in leadership roles at Ralph Lauren Corporation, Venator Group, Inc., R.H. Macy & Co., Inc. and Federated Merchandising Services.
The company has also announced the appointment of Alessandro Bogliolo to the position of Chief Executive Officer. Bogliolo, who will join Tiffany & Co. in October, takes over the position from Kowalski, who has served as Interim CEO since February 2017.
Kowalski, who joined the board of Tiffany & Co. in 1995, will remain on the board as a director.
Commenting on the new appointments, Kowalski says, "Roger has significant experience as a leader in the luxury retail industry, and I and my fellow directors value tremendously his expertise and insight which have been apparent during his time on the Board."Continues Kowalski: "With the appointment of Alessandro as our new CEO, and under Roger's leadership on the Board, I believe we are well positioned to execute on strategies to drive comparable store sales growth and stronger earnings growth in the longer-term."