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Tiffany abruptly drops CEO just before first-ever Super Bowl ad
Storied jeweller beset by slump in tourism spending; CEO shake-up follows design director's departure
Add BT as a preferred sourcePublished Mon, Feb 6, 2017 · 09:50 PM
New York
TIFFANY & Co abruptly replaced chief executive officer Frederic Cumenal after disappointing financial results, just before the jewellery chain is set to launch a new campaign with the first Super Bowl ad in its history.
Mr Cumenal, who had run the company since April 2015, will be immediately succeeded on an interim basis by chairman and former CEO Michael Kowalski, Tiffany said on Sunday afternoon. The shake-up follows the departure of the jeweller's top designer three weeks ago and weak holiday sales that sent the stock tumbling.
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