Tiffany appoints former Bulgari executive as its new CEO

Business Leaders Reuters

Jewelry retailer Tiffany & Co named former Bulgari SpA executive Alessandro Bogliolo as chief executive, months after appointing another executive from the Italian luxury retailer to its board as part of a deal with hedge fund Jana Partners.

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Bogliolo, a veteran luxury industry executive who has spent 16 years at Bulgari, most recently was the chief executive of apparel and accessories company Diesel SpA.

Bogliolo, 52, is expected to take over as Tiffany's chief executive by Oct. 2, and also join the company's board.

The appointment comes about five months after the company ousted former Chief Executive Frederic Cumenal after a spate of disappointing results.

After Cumenal's departure, hedge fund Jana Partners revealed a stake in Tiffany and struck a surprise deal to add three directors to its board, including Francesco Trapani, an ex-CEO of Bulgari.

Trapani was also part of the search committee that appointed Bogliolo as chief executive. 

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(Reporting by Siddharth Cavale in Bengaluru; Editing by Shounak Dasgupta)

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