Tiffany & Co names new chief executive officer

NEW YORK, NY - JANUARY 12:  A flag for a Tiffany & Co. store hangs along Wall Street in Manhattan on January 12, 2015 in New York City. Shares in the luxury jewelry chain fell on news of weaker than expected holiday sales. Sales in November and December dropped 1 percent to $1.02 billion worldwide.  (Photo by Spencer Platt/Getty Images)

Tiffany & Co’s board of directors has unanimously named Alessandro Bogliolo the company’s next chief executive officer.

Bogliolo is expected to assume the role by October 2, 2017 and upon joining the company will also join the board of directors.

The former Tiffany & Co CEO, Federic Cumenal, stepped down in February after less than two years at the helm, leading chairman Michael Kowalski to serve as interim CEO while the board of directors searched for Cumenal’s replacement.

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The new chief executive officer is a veteran luxury industry executive who previously served for 16 years at Bulgari SpA, in roles including chief operating officer and executive vice president, jewellery, watches & accessories.

Currently, Bogliolo is the chief executive officer of global apparel and accessories company Diesel SpA. During the time in this role hehas led the company’s efforts to revitalise its brand and enhance the customer experience.

NEW YORK, NY - FEBRUARY 13:  Global CEO of Diesel, Alessandro Bogliolo (L) and President of OTB Group, Renzo Rosso attend the after party celebrating DIESEL's Madison Avenue flagship on February 13, 2016 in New York City.  (Photo by Paul Morigi/Getty Images for DIESEL)

The new Tiffany & Co CEO (left).

On the news of Bogliolo’s appointment, Kowalski states: “Today’s announcement concludes the board’s thorough process to identify and recruit an accomplished leader to position the company for sustainable growth in the years ahead.

“Alessandro has a well-deserved reputation for creativity and execution, having previously led a number of international brands to success and improved performance. I also believe that his vision and team-oriented approach make him an ideal fit with Tiffany’s long-standing values. Tiffany is an iconic brand and is at an important time in its history. We look forward to Alessandro and the Tiffany team delivering a distinctive vision of luxury and style to our customers around the world, while also focusing on driving attractive returns for our shareholders.”

During his career, Bogliolo has worked in a broad range of countries, including China, Singapore, Italy, France, Spain and the United States. Other roles include working as chief operation officer for global cosmetics company, Sephora.

“I am honored and excited by the opportunity to lead this remarkable company,” Bogliolo shares. “Tiffany, with its legendary history, has always represented luxury, style, and an extraordinary standard of quality and excellence, and I look forward to working with the board and the rest of the Tiffany team to build on this foundation.

“It is my goal to continue to delight our customers with compelling product offerings, supported by best-in-class operations. I am committed to strengthening the company’s position as one of the world’s most important luxury brands and delivering value for all of our stakeholders.”

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