Tapestry Inc. said Wednesday it has appointed Jide Zeitlin as its chief executive with immediate effect. Zeitlin will replace Victor Luis, who is leaving the company, formerly known as Coach Inc., which is home to the Coach, Kate Spade and Stuart Weitzman fashion brands. Zeitlin will continue in his role as chairman of the board, which he has held since November of 2014. The executive came to the role after spending 20 years at Goldman Sachs , where he was global chief operating officer of the investment banking division. The company said it's sticking with its fiscal 2020 financial guidance and still expects to return about $700 million to shareholders through its dividend and stock buyback programs. It said board member Susan Kropf has been named lead independent director. Shares rose 2.5% in premarket trade, but have fallen 39% in 2019, while the S&P 500 has gained 16%.
blaineonline.finance.blog 