LONDON, United Kingdom – BoF compiles the most important professional moves of the week.
Tiffany Taps Frederic Cumenal As CEO
Tiffany & Co has selected its current president, Frederic Cumenal, to be the company's next chief executive, as longtime CEO Michael Kowalski plans to retire from the company next year. Kowalski, 62, was named chief executive in 1999 and took on the role of chairman in 2003, where he oversaw the brand’s expansion in Asian markets, particularly Japan and China. Cumenal, 54, joined Tiffany in 2011 after a 15-year career at LVMH, where he was president and CEO of champagne maker Moet & Chandon. He initially joined Tiffany as an executive vice president, responsible for sales and distribution, and was promoted to president and given a newly created seat on Tiffany’s board in 2013. Kowalski will retire March 31, 2015, with Cumenal assuming the role on April 1.
Nadège Vanhee-Cybulski Joins Hermès
The rumours have been confirmed: French luxury brand Hermès has officially named Nadège Vanhee-Cybulski to succeed Christophe Lemaire. Earlier in the week, news broke that Lemaire was exiting his role as artistic director of women’s ready-to-wear at Hermès after four years to focus on the development of his own label. Vanhee-Cybulski first cut her teeth working at Maison Martin Margiela, in Paris, before joining Phoebe Philo at Céline as senior designer. She was later tapped as women’s design director at The Row. Vanhee-Cybulski’s first collection for Hermès will be unveiled next March. Meanwhile, Lemaire’s last collection will be shown at Paris Fashion Week in October.
Nicole Farhi Creative Director Steps Down
Joanna Sykes, creative director at British brand Nicole Farhi, is leaving the company after less than two years in the role. The former Aquascutum design director, who joined Nicole Farhi in September 2012, has decided to focus on new projects. During her time at Nicole Farhi, she reworked the brand's identity, re-designing its packaging and six retail stores. Prior to Aquascutum, Sykes held positions at Freda and Giorgio Armani, and worked as creative director of her own womenswear label. Nicole Farhi was bought out of administration in July last year by Maxine Hargreaves-Adams, the daughter of Matalan founder John Hargreaves. The label’s current in-house design team will continue working without a creative director for now. Sykes’ departure was “with our best wishes and thanks,” said a statement issued by Nicole Farhi.
American Apparel’s Hires First Female Director
The saga of American Apparel took another interesting turn this week as the company announced it was appointing its first woman board member: Colleen Brown, who currently serves as managing director of Newport Board Group. Joseph Magnacca, CEO and director of struggling electronics retailer Radioshack, is also joining the company's board of directors as part of an overhaul that has seen the replacement of all previous board members except current co-chairmen David Danziger and Allan Mayer, both of whom have served in their roles since June 18 of this year. The move to bring in Brown adds a female perspective to the company, known for its racy advertising and sexually charged culture. American Apparel founder Dov Charney was removed from the board and ousted as chairman, president and CEO of the company last month, amid allegations of sexual harassment and misappropriation of corporate funds.
Asia Chief Foran To Lead Walmart
American retailer Walmart Inc. has tapped the head of its Asia division, Greg Foran, to run its troubled stores, replacing longtime chief Bill Simon. Simon, 54, joined the company in 2006 and has headed its US business since 2010. He will continue to work as a consultant to the company for another six months at which point he will receive a retirement package worth $9 million. Prior to joining Walmart in 2011, Foran, 53, held several senior roles at Woolworths. He became the chief executive of Walmart’s China operations only six months after joining the company and was promoted to head of Asia in April. Foran begins his new role on August 9.
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