George Carrara, currently Executive Vice President, Chief Operating Officer and Chief Financial Officer of Fifth & Pacific Companies, will be promoted to President and Chief Operating Officer of Kate Spade & Company; Deborah Lloyd continues in her role as Chief Creative Officer of the renamed Company. Additionally, Mr. Leavitt and Ms. Lloyd will join the Company's Board of Directors.
The corporate name change and management transition are scheduled to take place following the release of fourth quarter earnings results on Tuesday, February 25, 2014, at which time the Company will begin trading as NYSE:KATE.
Commenting on the management change, Mr. McComb said: "I am personally very excited to see this team-one I have personally cultivated over the years-elevate into these roles. I believe that together they have the proven skill sets, chemistry, and momentum that this fast growing business demands. They are vision-based, they are experienced, they are analytical and they know how to deliver profit and growth, while driving branding, customer service, and high creative standards."
Mr. McComb added: "Under Craig and Deborah's leadership, Kate Spade has truly blossomed - not only growing more than seven-fold in sales, but also dramatically expanding the brand's global presence and lifestyle offerings. They are clear in their goals for the brand going forward and committed to executing them with precision. And I can't think of a better person for the President role than George.
"He has brought tremendous capability to our company-and talent as well. As President, George will play an instrumental role in delivering the long-range plan. My excitement is not only personal and heartfelt, but as a shareholder of the Company, I am bullish about what this team, and the one assembled to support them, can accomplish in the years to come. Craig and I will be meeting with analysts and investors in the coming weeks to ensure a smooth transition."
Mr. Leavitt said: "We have been on a journey with Kate Spade - one that has taken us across the country and around the world as we build a global, lifestyle brand that remains nimble and innovative, focused on delighting the consumer every time she interacts with us. Bill has been a strategic partner and mentor to Deborah and me, bringing an energy level and clarity of vision that has been a great asset as the business grew.
"The greatest thing about the leadership transition of the Company is the continuity. While the name of the Company will change, the brand and operational leadership that got us to this place not only continues, but are enhanced as we merge the Kate Spade and FNP teams. As we enter the next chapter in our story, Kate Spade will benefit from the full attention and experience of people like George, who to date has had to split his time, but now can fully focus his attention on moving us forward."
Textiles | On 27th Jul 2016
Powerloom weavers affiliated to the Southern Gujarat Chamber of...
Apparel/Garments | On 27th Jul 2016
Online retailer Amazon said it has planned to open a seventh 855,000...
Textiles | On 27th Jul 2016
Developer of silk based fibres Kraig Biocraft Laboratories has...
Dow Microbial Control
'Silvadur is most rapidly adopted in areas where hygiene-conscious and...
‘The terms eco-friendly and organic are common but everyone perceives them ...
‘Buying crowdsourced or creative designs are much more appealing to the...
Suominen Corporation is a manufacturer of nonwovens as roll goods for...
Bombay Textile Research Association
Bombay Textile Research Association (BTRA) is a leading name in textile...
Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...
Occasions Elegance Wear
It is believed that by early 19th century, Varanasi weavers had moved away ...
Bridal couture created with rich Indian heritage, exquisite craftsmanship...
Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...