Tiffany Names New CFO

Tiffany Names New CFO
Tiffany & Co. is mixed with some of its leaders, the appointment of James N. Fernandez to the new post of Chief Operating Officer, and Patrick F. McGuiness his successor as CFO.

"These two leaders have thus developed an economic and operational first-class," said President and CEO Michael J. Kowalski. "I think this is a natural evolution, in line with the ongoing development of company organization."

Mr. Kowalski, 59, was with jewelry distributor for nearly 30 years, and analysts suggest the movement could be the beginning of the solidification of a succession plan.

Candidates for the post could include Mr. Fernandez, 55, who joined Tiffany in 1983 and served as CFO since 1989. Mr. McGuinness, 45, became senior vice president of finance in 2007 and held various management positions within divisions of finance and merchandising since joining the company in 1990.

Analysts also the name of a former LVMH Moet Hennessy tiffany bracelet SA, the Executive Cumenal Frederic, who said the vice president of Tiffany's in March. Mr. Cumenal is currently responsible for the company's business in Asia, Japan, Europe and emerging markets, and existing reports Mr. Kowalski. And 'expected to be successful at Tiffany's long-term president, James E. Quinn, who plans to retire in early 2012.

Tiffany enjoys discretionary spending of consumers more high-end and its expansion into international markets. Last month, the company said its fiscal first-quarter profit rose 26% as it continues after double-digit sales and better margins.