Shoe- and handbag-maker Kenneth Cole Productions Inc. said Tuesday Kenneth Cole will relinquish the chief executive title to Liz Claiborne Inc. executive Jill Granoff, effective May 5.
Granoff had been apparel maker Liz Claiborne's executive vice president of direct brands, responsible for the company's profitable retail brand segment, which include Juicy Couture and Lucky Brand Jeans, as well as the company's outlet-store business.
Cole will remain chairman and chief creative officer of Kenneth Cole. The company said the move will allow Cole to focus on brand and product development and "bigger picture" strategy while Granoff runs day-to-day operations.
In a statement, Liz Claiborne Chief Executive William L. McComb said any changes in the organization stemming from the resignation will be detailed in the future. He also said the company will soon name a president of Juicy Couture.
Liz Claiborne shares fell 8 cents to $17.15 during aftermarket trading, after closing down 4 cents at $17.23.
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