Tapestry exec changes continue: Kate Spade CEO to exits the company
Anna Bakst will be departing the company at the end of the calendar year. Until a replacement is found, the chief financial officer of Kate Spade, Joanne Crevoiserat, will take the reins.
Changes continue at Tapestry. Anna Bakst, chief executive officer of Tapestry, has left the company, the group explained in a statement. Kate Spade has already started looking for a replacement for Bakst, which will be departing at the end of the calendar year. Meanwhile, chief financial officer, Joanne Crevoiserat, will be responsible for leading the company on an interim basis.
“Quarter-to-date, Kate Spade’s performance is on track and we are confident in our ability to meet our holiday season goals,” stated Jide Zeitlin, chairman and chief executive officer of Tapestry, in a press release.
Tapestry will be chaired on an interim basis by CFO, Joanne Crevoiserat
Bakst is the second executive to leave the company in just four months. Last September, former chief executive officer of Tapestry, Victor Luis, left the company. Zeitlin replaced the executive.
Tapestry is listed on the New York Stock Exchange and owns Coach, Kate Spade, and Stuart Weitzman. The group ended its fiscal year 2018 with a 3% growth, to 6 billion dollars. The group’s profit, meanwhile, skyrocketed 61.8%, to 643.4 million dollars.
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