Coach executive chairman Lew Frankfort retires

Coach has announced that executive chairman Lew Frankfort plans to retire upon his term’s expiration. He will not stand for re-election to the board at the company’s annual meeting of stockholders in November.



The company intends to bestow upon him the honorary title of chairman emeritus at that time.



“Lew Frankfort, who marks his 35th anniversary with the company this week, is often referred to as the second founder of Coach. Under his leadership, we created the accessible luxury handbag and accessories market in North America and took the brand global, driving sales from $6 million to $5 billion. His contributions are truly immeasurable, and I am fortunate to know him both as a friend and a mentor,” said CEO Victor Luis. “He’s created a unique performance culture built on a set of common values, and forged an empowered leadership team who are focused on our shared vision of brand transformation. I wish Lew all the best and look forward to his continued counsel in the seasons and years ahead.”



“Now is the right time for me to move on to my next chapter. I have every confidence that the strong and seasoned management team, led by Victor and under the creative direction of Stuart Vevers, has the resources and experience to execute the transformation plan in place, leveraging the compelling global opportunities for the brand,” added Frankfort. “My more than three decades at Coach have been more gratifying than I possibly could have imagined. I have been extremely fortunate in my chosen work and in finding colleagues who have shared my passion and vision for building Coach into the vibrant, global brand it is today. I have watched the brand grow and flourish in over 30 countries on five continents. It has been an honor to lead one of the strongest teams in the consumer space, who have motivated me to be much better than I otherwise would have been.”



The company said that it expects Jide Zeitlin, currently lead outside director, to be appointed the next chairman of the board following the annual meeting in November.