Tiffany appoints former Bulgari exec Alessandro Bogliolo as CEO

Rufina Vignone
Luglio 14, 2017

The US jeweler Tiffany & Co said it has named Alessandro Bogliolo, the current CEO of Italian fashion group Diesel and former senior execuive with Italian jeweler Bulgari, as its chief executive.

Though Jana's precise plan for the company is not yet clear, its agreement with Tiffany included Trapani being part of the CEO search committee. He also spent 16 years at Bulgari, serving as both chief operating officer and executive vice president, jewelry, watches, and accessories.

He succeeds Frederic Cumenal, who stepped down in February after almost two years with Tiffany, during which its sales declined and its stock dropped 9 percent. Tiffany has been looking for a CEO since February, when Frederic Cumenal abruptly left the company in a shakeup amid disappointing financial results.

Tiffany's shares were up 2 percent at $94.26 on Thursday.

Tiffany & Co., based in NY, has wrestled with weak sales as millennials spend money elsewhere and competition intensifies from online players like Amazon and Blue Nile.

The 52-year old Bogliolo is expected to assume the role by October 2, Tiffany added, and upon joining the company will also join its board.

His appointment comes at a time Tiffany is struggling to attract young shoppers who are either spending less on accessories or are turning to chic brands such as Pandora A/S, and Alex and Ani.

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