Tapestry chief quits af­ter a year for ‘per­sonal rea­sons’

The Daily Telegraph - Business - - Business - By Chris Johnston

THE boss of the com­pany that owns brands in­clud­ing Kate Spade and Coach has re­signed un­ex­pect­edly for “per­sonal rea­sons” af­ter less than a year in the job.

Tapestry’s Jide Zeitlin was one of just six black For­tune 500 bosses. Chair­man since late 2014 he also be­came chief ex­ec­u­tive last Septem­ber when the New York-based com­pany ousted Vic­tor Luis.

The com­pany did not give a rea­son for his de­par­ture, but The Wall Street

Jour­nal re­ported that he stepped down af­ter the Tapestry board opened an in­ves­ti­ga­tion fol­low­ing an al­le­ga­tion made against him.

Mr Zeitlin said in a state­ment re­ported by The Jour­nal: “In the past month, a woman I pho­tographed and had a re­la­tion­ship with more than 10 years ago reached out to var­i­ous me­dia or­gan­i­sa­tions to ex­press her con­cerns about what had oc­curred.

“I felt com­pelled to re­sign today be­cause I do not want to cre­ate a dis­trac­tion for Tapestry, a com­pany I care deeply about.”

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