Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Nyse  >  Tapestry, Inc.    TPR

TAPESTRY, INC.

(TPR)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsPress ReleasesOfficial PublicationsSector news

Tapestry : CEO of parent company of Coach and Kate Spade resigns

share with twitter share with LinkedIn share with facebook
07/21/2020 | 08:33am EDT

NEW YORK — The CEO of the parent company of Kate Spade, Stuart Weitzman and Coach fashion brands resigned Tuesday citing allegations of misconduct by a woman with whom he had a relationship more than a decade ago.

Jide Zeitlin had been Tapestry Inc.'s chairman since November 2014 and took over as CEO in September 2019 after the company ousted its then-CEO Victor Luis.

The Nigerian-born executive was one of only four Black CEOs in the Fortune 500.

“In the past month, a woman I photographed and had a relationship with more than 10 years ago reached out to various media organizations to express her concerns about what had occurred,” Zeitlin said in a statement. “I felt compelled to resign today because I do not want to create a distraction for Tapestry, a company I care deeply about.”

According to The Wall Street Journal, Tapestry's board of directors has hired a law firm to investigate allegations raised by at least one woman. The woman accused Zeitlin of posing as a photographer under an alias to lure her into a relationship more than a decade ago, according to the report.

In a LinkedIn post Zeitlin acknowledged that the relationship was a mistake but said “I did not use power, wealth, or position to further that relationship.”

Tapestry declined to comment on the allegations.

Joanne Crevoiserat, Tapestry's chief financial officer, has been appointed interim CEO while the company searches for a successor. The company said it will look at both internal and external candidates.

Todd Kahn, president and chief administrative officer and company secretary, will serve as interim chief executive officer and brand president of Coach. Andrea Shaw Resnick, global head of investor relations and corporate communications, has been named interim chief financial officer.

In addition, Susan Kropf, the company’s lead independent director, was appointed chair of the board, replacing Zeitlin.

Shares in New York-based Tapestry Inc. closed up 4% in Tuesday trading.

_____

Follow Anne D’Innocenzio: http://twitter.com/ADInnocenzio

© 2020 The Canadian Press. All rights reserved., source Canadian Press DataFile


share with twitter share with LinkedIn share with facebook
All news about TAPESTRY, INC.
10/15TAPESTRY, INC. : to Host FY21 First Quarter Earnings Call
BU
10/08HAEGGQUIST & ECK, LLP : Is Investigating Claims Against Tapestry, Inc.'s Directo..
BU
10/01TAPESTRY : Coach Introduces Coach x Jennifer Lopez Collaboration With Special-Ed..
PR
08/13TAPESTRY : MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESUL..
AQ
08/13TAPESTRY, INC. : Results of Operations and Financial Condition, Costs Associated..
AQ
08/13TAPESTRY, INC. : Reports Fiscal 2020 Fourth Quarter and Full Year Results
BU
08/11TAPESTRY : Coach Foundation Announces Partnerships With The Opportunity Network,..
PR
08/03TAPESTRY : Coach Launches C001 Watch Collection
PR
07/21NEWS HIGHLIGHTS : Top Company News of the Day
DJ
07/21NEWS HIGHLIGHTS : Top Company News of the Day
DJ
More news
Financials (USD)
Sales 2021 5 093 M - -
Net income 2021 503 M - -
Net Debt 2021 657 M - -
P/E ratio 2021 11,6x
Yield 2021 1,33%
Capitalization 5 681 M 5 681 M -
EV / Sales 2021 1,24x
EV / Sales 2022 1,14x
Nbr of Employees 14 850
Free-Float 99,8%
Chart TAPESTRY, INC.
Duration : Period :
Tapestry, Inc. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends TAPESTRY, INC.
Short TermMid-TermLong Term
TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 31
Average target price 21,48 $
Last Close Price 20,48 $
Spread / Highest target 70,9%
Spread / Average Target 4,89%
Spread / Lowest Target -31,6%
EPS Revisions
Managers
NameTitle
Leonard Todd Kahn President & Co-CEO & Chief Administrative Officer
Joanne C. Crevoiserat Co-Chief Executive Officer
Susan J. Kropf Chairman
Thomas A. Glaser Chief Operating Officer
Andrea Shaw Resnick Chief Financial Officer & Head-Communications
Sector and Competitors
1st jan.Capitalization (M$)
TAPESTRY, INC.-24.06%5 681
INDUSTRIA DE DISEÑO TEXTIL, S.A.-23.69%88 429
KERING SA0.65%87 099
FAST RETAILING CO., LTD.12.54%70 745
ROSS STORES, INC.-20.82%32 817
HENNES & MAURITZ AB-16.71%29 993