Tiffany & Co. CEO to retire next year

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Tiffany & Co.’s chairman and chief executive Michael Kowalski will be retiring next year and replaced by president Frederic Cumenal. Kowalski has served in his position for 15 years. He first joined the company in 1983, earning the title of CEO 16 years later. He became chairman in 2003, adding to his position as CEO. He has played a big role in Tiffany’s expansion in Asian markets, especially Japan and China.

Cumenal, who will take over Kowalski’s role as CEO as of April 1, first joined Tiffany & Co. four years ago. He became president and a board member last year. Cumenal previously worked for LVMH Group, serving as president and CEO of Moet & Chandon SA. CJ

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