Tiffany Names New Chairman of the Board

NEW YORK–(BUSINESS WIRE)– Tiffany & Co. (NYSE:TIF) reported today that the Company’s Board of Directors has elected Roger Farah as Chairman, effective October 2 Mr. Farah He has served in leadership roles at Ralph Lauren Corporation, Venator Group, Inc., R.H. Macy & Co., Inc. and Federated Merchandising Services.

Michael J. Kowalski, Chairman since 2002, initially joined the Board in 1995 and will remain a director. In addition, Mr. Kowalski, Chief Executive Officer from 1999 until his retirement effective March 2015, and Interim CEO since February 2017, will relinquish that title when the Company’s newly-appointed CEO, Alessandro Bogliolo, joins the Company in October.

Mr. Kowalski said, “Roger has significant experience as a leader in the luxury retail industry, and I and my fellow directors value tremendously his expertise and insight which have been apparent during his time on the Board. With the appointment of Alessandro as our new CEO, and under Roger’s leadership on the Board, I believe we are well positioned to execute on strategies to drive comparable store sales growth and stronger earnings growth in the longer-term.”

Tiffany is the internationally-renowned jeweler founded in New York in 1837. Through its subsidiaries, Tiffany & Co. manufactures products and operates TIFFANY & CO. retail stores worldwide, and also engages in direct selling through Internet, catalog and business gift operations. Please visit www.tiffany.com for additional information.