Joshua Schulman Appointed as CEO of Michael Kors
24 Agosto 2021 - 10:00AM
Business Wire
Will Become CEO of Capri Holdings in
September 2022
John D. Idol Affirms Commitment as Executive
Chairman
Capri Holdings Limited (NYSE:CPRI), a global fashion luxury
group, today announced that Mr. Joshua Schulman will be appointed
Chief Executive Officer of the Michael Kors brand effective today,
and will succeed John D. Idol as Chief Executive Officer of Capri
Holdings in September 2022 when Mr. Idol will become Executive
Chairman. Initially, Mr. Schulman will be responsible for all
aspects of the Michael Kors brand globally, reporting directly to
John D. Idol, Chairman and Chief Executive Officer of Capri
Holdings.
Mr. Schulman joins Capri Holdings from Tapestry, Inc. where he
was previously President and CEO of the Coach brand. Prior to his
tenure at Coach, Mr. Schulman was with Neiman Marcus Group serving
as President of Bergdorf Goodman from 2012 to 2017, and assuming
additional responsibility for NMG International with the
acquisition of MyTheresa.com in 2014. From 2007 to 2012, he was
Chief Executive Officer of Jimmy Choo. Previously, Mr. Schulman has
held senior positions in global fashion and luxury brands including
Yves Saint Laurent and Gucci.
“I am thrilled to have Josh join Capri Holdings as CEO of the
Michael Kors brand. Josh is an outstanding leader with broad retail
experience, industry depth and a proven track record of
successfully operating and growing luxury brands,” said John D.
Idol, Chairman and Chief Executive Officer of Capri Holdings.
“I am delighted to join Capri as CEO of Michael Kors,” commented
Joshua Schulman. “I have long admired Michael’s design vision and
how the brand creates timeless fashion and embodies jet set
glamour. I look forward to working closely with him and the
talented Michael Kors management team to build upon the
long-standing success of the brand.”
In September 2022, Mr. Schulman will succeed Mr. Idol as Chief
Executive Officer of Capri Holdings and will be appointed to the
Capri Holdings’ Board of Directors.
“Josh’s appointment is part of a thoughtfully planned leadership
succession. Over the course of the next year, Josh will immerse
himself in the Michael Kors brand. In September 2022, Josh will
become the CEO of Capri Holdings,” said Mr. Idol. “The Board and I
are confident in Josh’s unique abilities to lead Capri Holdings.
His results driven leadership style and passion for building
consumer-centric global brands will be instrumental in maximizing
the full potential of our three luxury fashion houses.”
Upon Mr. Schulman’s appointment as CEO of Capri Holdings, Mr.
Idol will assume the role of Executive Chairman. He will work
closely with Mr. Schulman to transition the role of CEO and
continue to provide overall leadership to the Board of
Directors.
Mr. Idol continued, “We believe our plan will allow for a smooth
CEO transition next Fall. I look forward to partnering with Josh on
the overall strategic direction for the group as well as on
potential strategic acquisitions.”
“I am honored and excited to assume the role of CEO of Capri
Holdings next year,” said Joshua Schulman. “Capri Holdings has
uniquely positioned itself as a leading global fashion luxury
group. I have tremendous respect for what the teams have
accomplished across the three founder-led brands. I believe in the
strategic vision for Capri Holdings and I look forward to
partnering with John and the Board in leading Capri Holdings
through its next phase of growth.”
About Capri Holdings Limited
Capri Holdings Limited is a global fashion luxury group,
consisting of iconic brands that are industry leaders in design,
style and craftsmanship. Its brands cover the full spectrum of
fashion luxury categories including women’s and men’s accessories,
footwear and ready-to-wear as well as wearable technology, watches,
jewelry, eyewear and a full line of fragrance products. The
Company’s goal is to continue to extend the global reach of its
brands while ensuring that they maintain their independence and
exclusive DNA. Capri Holdings Limited is publicly listed on the New
York Stock Exchange under the ticker CPRI.
Forward Looking Statements
This press release contains statements which are, or may be
deemed to be, “forward-looking statements.” Forward-looking
statements are prospective in nature and are not based on
historical facts, but rather on current expectations and
projections of the management of Capri Holdings Limited (the
“Company”) about future events, and are therefore subject to risks
and uncertainties which could cause actual results to differ
materially from the future results expressed or implied by the
forward-looking statements. All statements other than statements of
historical facts included in this press release may be
forward-looking statements. Without limitation, any statements
preceded or followed by or that include the words “plans”,
“believes”, “expects”, “intends”, “will”, “should”, “could”,
“would”, “may”, “anticipates”, “might” or similar words or phrases,
are forward-looking statements. These forward-looking statements
are not guarantees of future financial performance. Such
forward-looking statements involve known and unknown risks and
uncertainties that could significantly affect expected results and
are based on certain key assumptions, which could cause actual
results to differ materially from those projected or implied in any
forward-looking statements. These risks, uncertainties and other
factors are set forth in the reports that the Company files from
time to time with the U.S. Securities and Exchange Commission,
including the Company’s Annual Report on Form 10-K for the fiscal
year ended March 27, 2021 (File No. 001-35368). Any forward-looking
statement in this press release speaks only as of the date made and
the Company disclaims any obligation to update or revise any
forward-looking or other statements contained herein other than in
accordance with legal and regulatory obligations.
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version on businesswire.com: https://www.businesswire.com/news/home/20210824005248/en/
Investor Relations: Jennifer Davis (201) 514-8234
Jennifer.Davis@CapriHoldings.com
Media: Dinesh Kandiah (917) 934-2427 Press@CapriHoldings.com
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