Tapestry, Inc. (NYSE: TPR), a house of iconic accessories and
lifestyle brands consisting of Coach, Kate Spade, and Stuart
Weitzman, today announced that Kevin Hourican, President and Chief
Executive Officer of Sysco Corporation (NYSE: SYY), and David
Elkins, Executive Vice President and Chief Financial Officer of
Bristol Myers Squibb (NYSE: BMY), have been appointed to the
Company’s Board of Directors. The appointments of Mr. Hourican and
Mr. Elkins to the Board bring the membership to eleven, including
ten independent directors.
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Kevin Hourican (Photo: Business Wire)
Joanne Crevoiserat, Chief Executive Officer of Tapestry, Inc.,
said, “We are pleased to welcome Kevin and David to our Board – two
proven leaders in driving global growth and transformation at
scale. I am confident that their experience and insights will be
invaluable, particularly at this exciting time in our company’s
history. I look forward to working with them as we execute our
strategic agenda and position Tapestry as a leader in innovation
and shareholder returns for years to come.”
Anne Gates, Chair of the Board of Tapestry, Inc., added, “We are
delighted to have two exceptional leaders join our Board. Kevin and
David bring significant strategic and financial expertise, with
successful track records of delivering innovation and disciplined
global growth, including deep M&A experience. Their
appointments further strengthen our Board, and I look forward to
the positive impact they will have on our company and its
future.”
Kevin Hourican
Kevin Hourican is the President and Chief Executive Officer of
Sysco Corporation, the global leader in selling, marketing and
distributing food products to restaurants, healthcare and
educational facilities, lodging establishments and other customers
who prepare meals away from home. Kevin has served as Sysco’s
President and CEO and as a member of its Board of Directors since
February 1, 2020, leading the Company’s large-scale,
customer-focused and growth-related transformation, aimed at
further improving the way Sysco supports its customers and
accelerating profitable sales growth. Prior to Sysco, he served as
Executive Vice President of CVS Health Corporation, a premier
health innovation company, and President of CVS Pharmacy,
overseeing CVS Health’s $85 billion retail business, including
9,900 retail stores and over 200,000 employees, as well as
merchandising, marketing, supply chain, real estate, front store
operations, pharmacy growth, pharmacy clinical care and pharmacy
operations. Prior to joining CVS Health, Kevin held executive
leadership roles at Macy’s, most recently serving as Senior Vice
President, Regional Director of Stores, responsible for the
management of 110 department stores in the Mid-Atlantic region.
Kevin holds an undergraduate degree in Economics and a master’s
degree in Supply Chain Management, both from The Pennsylvania State
University.
Upon his appointment, Kevin Hourican said, "I am excited to be
joining the Board of Directors of Tapestry, an innovative,
purpose-driven company with a consumer-led approach to building
enduring brands. I look forward to working with the Board and the
talented Tapestry team, supporting the organization as it expands
its global reach, driving customer engagement and enhanced
shareholder returns."
David Elkins
David Elkins is the Executive Vice President and Chief Financial
Officer of Bristol Myers Squibb (BMS), a global biopharmaceutical
company whose mission is to discover, develop and deliver
innovative medicines that help patients prevail over serious
diseases. In his current role, David has responsibility for Global
Business Operations, which includes Business Development, Business
Insights & Analytics, Global Finance, and Strategic Sourcing
& Procurement. David joined BMS as a result of the acquisition
of Celgene where he was Executive Vice President & Chief
Financial Officer. Prior to Celgene, he served as Chief Financial
Officer for Johnson & Johnson’s (J&J) Consumer Products,
Medical Devices, and Corporate Functions. Before J&J, he served
as Executive Vice President & CFO of Becton, Dickinson &
Company, a leading global medical device company, and held roles of
increasing responsibility at AstraZeneca from 1995 to 2008. He
began his career in finance at The Boeing Company. David earned his
B.S. degree in Economics from the University of Delaware, an M.S.
degree from the University of Pennsylvania, and an M.B.A. from
Drexel University.
Upon his appointment, David Elkins stated, “I’m honored to join
Tapestry’s Board of Directors at this important chapter in the
company’s history. Tapestry is home to iconic brands, with a track
record of operational excellence. I look forward to working with
the Board and leadership team to deliver on its strategic and
financial growth agenda to drive sustainable growth and shareholder
value.”
About Tapestry, Inc.
Our global house of brands unites the magic of Coach, kate spade
new york and Stuart Weitzman. Each of our brands are unique and
independent, while sharing a commitment to innovation and
authenticity defined by distinctive products and differentiated
customer experiences across channels and geographies. We use our
collective strengths to move our customers and empower our
communities, to make the fashion industry more sustainable, and to
build a company that’s equitable, inclusive, and diverse.
Individually, our brands are iconic. Together, we can stretch
what’s possible. To learn more about Tapestry, please visit
www.tapestry.com. For important news and information regarding
Tapestry, visit the Investor Relations section of our website at
www.tapestry.com/investors. In addition, investors should continue
to review our news releases and filings with the SEC. We use each
of these channels of distribution as primary channels for
publishing key information to our investors, some of which may
contain material and previously non-public information. The
Company’s common stock is traded on the New York Stock Exchange
under the symbol TPR.
This information to be made available in this press release may
contain forward-looking statements based on management's current
expectations. Forward-looking statements include, but are not
limited to, statements regarding long term performance, statements
that can be identified by the use of forward-looking terminology
such as "may," "will," “can,” "should," "expect," “expectation,”
“potential,” "intend," "estimate," "continue," "project,"
"guidance," "forecast," “outlook,” “commit,” "anticipate," “goal,”
“leveraging,” “sharpening,” transforming,” “creating,”
accelerating,” “enhancing,” “innovation,” “drive,” “targeting,”
“assume,” “plan,” “progress,” “confident,” “future,” “uncertain,”
“on track,” “achieve,” “strategic,” “growth,” “view,” “vision,” “we
can stretch what’s possible,” “futurespeed,” or comparable terms.
Future results may differ materially from management's current
expectations, based upon a number of important factors, including
risks and uncertainties such as the impact of economic conditions,
recession and inflationary measures, the impact of the Covid-19
pandemic, risks associated with operating in international markets
and our global sourcing activities, the ability to anticipate
consumer preferences and retain the value of our brands, including
our ability to execute on our e-commerce and digital strategies,
the ability to successfully implement the initiatives under our
2025 growth strategy, the effect of existing and new competition in
the marketplace, our ability to control costs, the effect of
seasonal and quarterly fluctuations on our sales or operating
results; the risk of cybersecurity threats and privacy or data
security breaches, our ability to protect against infringement of
our trademarks and other proprietary rights, the impact of tax and
other legislation, the risks associated with potential changes to
international trade agreements and the imposition of additional
duties on importing our products, our ability to achieve intended
benefits, cost savings and synergies from acquisitions including
our proposed acquisition of Capri Holdings Limited (“Capri”), the
anticipated impact of the proposed acquisition of Capri on the
combined company’s business and future financial and operating
results, the anticipated closing date for the proposed acquisition
of Capri, the satisfaction of the conditions precedent to
consummation of the proposed acquisition of Capri, including the
ability to secure regulatory approvals on the terms expected, at
all or in a timely manner, the impact of pending and potential
future legal proceedings, and the risks associated with climate
change and other corporate responsibility issues, etc. In addition,
purchases of shares of the Company’s common stock will be made
subject to market conditions and at prevailing market prices.
Please refer to the Company’s latest Annual Report on Form 10-K and
its other filings with the Securities and Exchange Commission for a
complete list of risks and important factors. The Company assumes
no obligation to revise or update any such forward-looking
statements for any reason, except as required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20240229220934/en/
Tapestry, Inc. Media: Andrea Shaw Resnick Chief Communications
Officer 212/629-2618 aresnick@tapestry.com Analysts and Investors:
Christina Colone Global Head of Investor Relations 212/946-7252
ccolone@tapestry.com Kelsey Mueller Investor Relations 212/946-8183
kmueller@tapestry.com
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