Track the companies that matter to you. It's FREE! Click one of these fan favorites to get started: Apple; Google; Ford.



Coach Names New CEO ... in 2014

Don't let it get away!

Keep track of the stocks that matter to you.

Help yourself with the Fool's FREE and easy new watchlist service today.

On Thursday, handbag and accessories maker Coach (NYSE: COH  ) announced a series of moves aimed at making steady progress toward a change of leadership over the next two years.

The company has promoted International Group President Victor Luis to the position of company President and Chief Commercial Officer, and appointed him also to a seat on the Board of Directors. Ultimately, Luis is expected to become Chief Executive Officer of the company in January 2014. In the meantime, Chairman and CEO Lew Frankfort will remain in his posts, becoming Executive Chairman only when Luis takes over as CEO in two years.

Luis is a seven-year veteran of the firm, having joined Coach as its President and CEO of Coach Japan in 2006. In a statement, Frankfort pointed out that Luis has since "spearheaded our meteoric growth in Asia."

Since Luis's arrival, Coach sales in Japan have roughly doubled, alongside a more than doubling of company-wide sales. The firm's international division has increased its sales nearly six-fold, from $117 million in 2006, to $675 million last year.

Coach shares are nonetheless shedding value on the news, declining 0.8%, to $48.39, in early trading.

Read/Post Comments (0) | Recommend This Article (2)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2257453, ~/Articles/ArticleHandler.aspx, 11/25/2015 9:52:50 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Rich Smith

I love things that go "boom." Sonic or otherwise, that means I tend to gravitate towards defense and aerospace stocks. But to tell the truth, over the course of a dozen years writing for The Motley Fool, I have covered -- and continue to cover -- everything from retailers to consumer goods stocks, and from tech to banks to insurers as well. Follow me on Twitter or Facebook for the most important developments in defense & aerospace news, and other great stories besides.

Today's Market

updated Moments ago Sponsored by:
DOW 17,821.74 9.55 0.05%
S&P 500 2,087.29 -1.85 -0.09%
NASD 5,110.59 7.78 0.15%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes

Related Tickers

11/25/2015 9:36 AM
COH $32.42 Up +0.25 +0.78%
Coach CAPS Rating: ****