Earthquake for Tapestry. “It has been a privilege to lead Tapestry with its powerful brands and outstanding people,” said Mr. Zeitlin to the press. “I have incredible belief in the Company’s growth potential as each brand sharpens its focus on meeting the broad and diverse needs of their consumers.” Zeitlin had been president of Tapestry since 2014 and took over Victor Luis as the CEO in September of 2019. As reported by Reuters in March, Tapestry had stated that Mr. Zeitlin had accepted to remain in his role for 3 more years.
Change in management
Mr. Zeitlin’s decision led Tapestry to choose Joanne Crevoiserat (currently the group’s Chief Financial Officer) as ad-interim CEO. Todd Kahn (president, CEO and secretary of the group) will become Coach’s president and ad-interim CEO. Manager Andrea Shaw Resnick is to become the new CFO of Tapestry and Susan Kropf (Lead Independent Director), will take over as the group’s board president. Tapestry, reads the official note emitted on July 21st, 2020, is starting to look for a new CEO from both internal and external candidates.
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