Tapestry COO to step down

Tapestry, a leading New York-based house of modern luxury accessories and lifestyle brands has announced the retirement of Tom Glaser, the company’s chief operations officer (COO). He will remain with the company until 1 October, and Scott Roe, who has been chief financial officer (CFO) since June 2021, will take on additional responsibility as COO. In this newly created dual role, Roe will continue to lead the finance organisation while expanding his scope to include oversight of operations across Tapestry’s multi-brand platform, including supply chain and information technology. As part of these changes, the company’s chief executive officer (CEO), Joanne Crevoiserat, will assume direct oversight of Tapestry’s strategy and consumer insights team. Crevoiserat said: “During his tenure, Tom has played an important role in the execution of our Acceleration Program and our ability to successfully navigate the effects of the pandemic. He leaves us with a solid foundation in place and a strong team of tenured leaders. We thank him for his many contributions and wish him all the best in his retirement. “At this same time, I am delighted to announce the appointment of Scott, a seasoned industry executive with more than 30 years of retail finance and operations experience, to the dual role of Chief Financial Officer and Chief Operating Officer. Since Scott joined Tapestry in June 2021, he has been a great partner to me and has a unique and unparalleled understanding of multi-brand companies.” Glaser added: “It has been a privilege to be part of Tapestry over the last three years, and to partner with such an amazing group of people. I am proud of our significant progress, and I look forward to following the Company’s success in the years ahead.” “Tapestry is an exceptional company with iconic global brands and a disciplined focus on delivering results", said Scott Roe. “I’m excited about my new, expanded role, and the opportunity to drive continued growth and profitability for the company.” The company is maintaining its Fiscal 2022 financial outlook and expects to report fiscal 2022 fourth quarter and full year results on 18 August 2022.