Tiffany CEO Michael Kowalski Retires Next March

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< p > Tiffany & Co. (NYSE:TIF) Tiffany announced yesterday that CEO Michael Kowalski will retire in March 31, 2015, and is succeeded by Frederic Cumenal, the current president of the group.

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< p > this year, a href= "http://sjfzxm.com/news/index_cj.as" > 62 < /a > Michael Kowalski has served Tiffany & Co. (NYSE:TIF) Tiffany in the past 31 years. In 1999, he was promoted to the position of chief executive, and he was also chairman of the board of directors in 2003.

After retirement, Michael Kowalski will remain in the board of directors of the group as a non executive chairman.

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< p > Frederic Cumenal < a href= "http://sjfzxm.com/news/index_cj.as" > "/a >" is the world's largest luxury group LVMH Mo, t t Hennessy Hennessy, the first president and chief executive officer of MOET & CHANDON Hennessy LV group. In 2011, he switched to Tiffany & Co., and became the executive vice president of sales and distribution. He was appointed president of the group in September last year, whose responsibilities extended to design and marketing.

Frederic Cumenal, who has been a popular choice for Group CEO, is now gradually taking over the work of Michael Kowalski.

Michael Kowalski said in a statement that the two would "work closely together to ensure seamless pition".

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< p > Michael Kowalski has recently successfully led Tiffany & Co. (NYSE:TIF) Tiffany to survive the severe retail downturn in the United States through steady growth.

According to the no fashion Chinese data, the world's second largest jewellery retailer recorded a net profit of $125 million 600 thousand or earnings per share of $0.97 in the first quarter of April 30th, representing an increase of 50.2% and 49.2% respectively over the same period last year.

Earnings per share were much higher than analysts' forecasts of $0.78.

Net sales rose 13% to $1 billion 10 million a year, exceeding the analyst's estimated $956 million 200 thousand.

At the fixed exchange rate, the overall same store sales grew by 11%, far more than 4.8% of analysts' expectations.

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< p > the group has raised its annual profit forecast accordingly. It is estimated that earnings per share will reach US $4.17 in fiscal year 2014, after which the expected range is 4.05-4.15 US dollars, and analysts expect us $4.17.

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At the time of P deadline, Tiffany & Co. (NYSE:TIF) fell 0.80% to 98.88 dollars in early trading on Monday, which has recorded an increase of more than 25% in the past 12 months.

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