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Embracing the Future
With the retail CFO’s role evolving so quickly in the last few years, what changes will the future bring? Look for CFOs to be hired from outside the company, oversee more divisions and spend significant time overseas in an increasingly global retail world.
The finance function, of course, will continue to be critical, especially for public companies.
Also the CFO role may encroach further on operations, particularly in an era of consolidation — store closures necessitated by mergers likely will fall under the domain of the CFO. -
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.