Tiffany names industry veteran Roger Farah chairman

Markets Associated Press

Tiffany & Co. has named industry veteran Roger Farah as chairman, effective Oct. 2.

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Farah, 64, joined the upscale jeweler's board in March and had served in leadership roles at Ralph Lauren Corp., Venator Group Inc., among others.

The move is part of a management overhaul pushed by activist investor Janna Partners to revitalize sales at Tiffany, which has struggled with intensifying competition from online players like Amazon and Blue Nile. It's also lost some of its luster with millennials.

In July, the New York-based company named Alessandro Bogliolo as CEO, effective October. He is taking over for interim CEO Michael Kowalski, who reclaimed the spot when Tiffany pushed out Frederic Cumenal in February.

Farah will replace Kowalski, who has been chairman since 2002. He will remain as a director.