by eyetee | March 19, 2014 7:54 pm
Tiffany & Co., has appointed Ralph Nicoletti as its next executive vice-president and chief financial officer (CFO).
“We have made key management additions to our organization in recent years,” said company chair and chief executive officer (CEO), Michael J. Kowalski. “Our first-class finance and [information technology] functions and Ralph’s leadership experience and global perspective will be valuable to Tiffany’s continued worldwide expansion.”
Reporting to Kowalski, Nicoletti will be based in New York and will oversee the company’s worldwide financial functions and IT. He joins Tiffany from CIGNA, the global health services and insurance company, where he was executive vice-president and CFO. Prior to that, he was executive vice-president and CFO at Alberto Culver and held various financial management positions at Kraft Foods. Nicoletti’s appointment becomes effective April 2.
The luxury brand also announced the retirement in July of James N. Fernandez, its chief operating officer (COO) and chief financial officer (CFO).
He had been serving as CFO since the resignation of the previous chief financial officer last November. He held the same position from 1989 to 2011. A 30-year veteran of Tiffany, Fernandez has been Tiffany’s COO since 2011.
“Jim Fernandez has made enormous contributions to Tiffany’s financial success and global expansion over the past three decades,” Kowalski said.
“In addition to his extraordinary leadership of the financial and information technology organizations at Tiffany, Jim also played a critical role in building a world-class distribution, manufacturing, and diamond-sourcing infrastructure. I, along with all my Tiffany colleagues, will be forever grateful for Jim’s immense contributions to the company’s success, his always-wise counsel, and his enduring friendship.”
Tiffany says it will eliminate the title of chief operating officer and, instead, its senior vice-president of global operations and customer service and the senior vice-president of manufacturing, diamonds, and gemstones, will report directly to Kowalski.
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