Tapestry, Inc. (NYSE:TPR) (SEHK:6388), a leading New York-based house of
modern luxury accessories and lifestyle brands, today announced that
Doreen Toben and Anne Gates have been appointed to Tapestry’s Board of
Directors. The appointments of Ms. Toben and Ms. Gates to the Board
brings the membership to ten.
Victor Luis, Chief Executive Officer of Tapestry, Inc., said, “We are
extremely pleased that Doreen Toben and Anne Gates have agreed to join
our Board. As Tapestry continues to evolve as a house of brands, we are
confident that their respective business experience, strategic insight
and leadership skills will prove particularly valuable to us.”
“We conducted an in-depth search for Directors who would further
strengthen and diversify our board’s breadth of expertise and
perspectives. We are delighted to have identified two such exceptional
individuals,” said Jide Zeitlin, Chairman of the Board of Tapestry, Inc.
“I am confident that Anne and Doreen are going to make important and
positive impacts on our company and I am very pleased to welcome them to
Ms. Toben served as Executive Vice President of Verizon Communications,
Inc. from February 2002 until her retirement from the company in June
2009. From 2002 to February 2009, she was Verizon’s Chief Financial
Officer and was responsible for its finance and strategic planning
efforts. Prior to 2002, Ms. Toben was senior vice president and chief
financial officer with responsibility for finance and strategic planning
for Verizon’s Telecom Group. She brings over 25 years of experience in
the communications industry. Ms. Toben is also a member of the boards of
directors of ARRIS Group, Inc. and The New York Times Company.
Previously, Ms. Toben served on the Board of Directors of Kate Spade
from 2009 until the company was acquired by Tapestry, Inc. in 2017.
Upon her appointment, Ms. Toben said, “The brands that comprise
Tapestry’s portfolio are built upon a history and heritage of
authenticity, with shared values of optimism, innovation and creativity.
I’m excited about joining the Board at this unique moment in time, to
help build on the foundation they have created as they evolve into a
true house of brands.”
Ms. Gates was President of MGA Entertainment, Inc., a privately-held
developer, manufacturer and marketer of toy and entertainment products
for children, a position she has held from 2014 through her retirement
in 2017. Ms. Gates held roles of increasing responsibility with The Walt
Disney Company from 1991-2012. Her roles included Executive Vice
President, Chief Financial Officer for Disney Consumer Products,
Managing Director for Disney Consumer Products Europe and Emerging
Markets, and Senior Vice President of operations, planning and analysis
for The Walt Disney Company. Prior to joining Disney, Ms. Gates worked
for PepsiCo and Bear Stearns. She has over 25 years of experience in the
retail and consumer products industry. In addition, Ms. Gates has a
broad business background in finance, marketing, strategy and business
development, including growing international businesses. Ms. Gates
serves on the Board of Directors of The Kroger Company. She is also
chairwoman of Big Sunday and a member of the Boards of the University of
California, Berkley Foundation, Columbia University School of
Engineering, Cadre and PBS SoCal (KOCE-TV Foundation).
Upon her appointment, Ms. Gates stated, “"I am delighted to be joining
the Tapestry Board. I look forward to contributing to the sustained
health and future growth of this home of great brands, all of which
resonate with consumers globally."
Tapestry, Inc. is a New York-based house of modern luxury lifestyle
brands. The Company’s portfolio includes Coach, Kate Spade and Stuart
Weitzman. Our Company and our brands are founded upon a creative and
consumer-led view of luxury that stands for inclusivity and
approachability. 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. To learn more about Tapestry, please visit www.tapestry.com.
The Company’s common stock is traded on the New York Stock Exchange
under the symbol TPR. The Company’s Hong Kong Depositary Receipts are
traded on The Stock Exchange of Hong Kong Limited under the symbol 6388.
Neither the Hong Kong Depositary Receipts nor the Hong Kong
Depositary Shares evidenced thereby have been or will be registered
under the U.S. Securities Act of 1933, as amended (the "Securities
Act"), and may not be offered or sold in the United States or to, or for
the account of, a U.S. Person (within the meaning of Regulation S under
the Securities Act), absent registration or an applicable exemption from
the registration requirements. Hedging transactions involving these
securities may not be conducted unless in compliance with the Securities
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 that can be identified by the use of forward-looking
terminology such as "may," "will," “can,” "should," "expect," "intend,"
"estimate," "continue," "project," "guidance," "forecast," "anticipate,"
“evolve,” “moving,” “leveraging,” “developing,” “driving,” “targeting,”
“assume,” “plan,” “pursue,” “look forward to,” “achieve” 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 expected economic trends, the ability to
anticipate consumer preferences, the ability to control costs and
successfully execute our transformation and operational efficiency
initiatives and growth strategies and our ability to achieve intended
benefits, cost savings and synergies from acquisitions, etc. 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.
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