The announcement, effective April 2, comes two months after current CFO Andrew Warren, who has held the position since 2007, said he would step down on March 16 to join Discovery Communications (DISCA)
The company, which is changing its name to Fifth & Pacific after selling its namesake brand, has been struggling for the last few quarters under heavy costs and weak revenue streams.
Liz has been shedding assets but has still had to take more drastic measures, such as selling the Liz Claiborne brand. In January, Liz Claiborne, whose remaining brands include Juicy Couture, Lucky Brand and Kate Spade, lowered its 2012 view to a range of $125 million to $140 million from an earlier $130 million to $150 million.
As chief of operating and finance, Carrara will report directly to chief executive William McComb.
In a statement, he said he’s been following the company’s progress and looks forward to helping guide Liz into the “growth phase of its transformation.”
Carrara most recently served as COO at Tommy Hilfiger North America. Earlier, he served as chief financial officer for the company’s jeans division.
Until he takes the reins, Robert Vill, who was promoted to senior vice president of finance and treasurer, effective April 2, will serve as interim chief financial officer starting March 16.
Vill joined Liz Claiborne in 1999 and has held a variety of financial positions since, including responsibility for divisional finance.