Parent company of Coach names first-ever dual COO/CFO

Tapestry has made a key organizational change in its C-suite.

In a newly created dual role, the parent company of Coach, Kate Spade and Stuart Weitzman said that Scott Roe, who has served as CFO since June 2021, will take on additional responsibility as chief operations officer, effective immediately. As COO, he succeeds Tom Glaser, 61, who has decided to retire. The change is in keeping with Tapestry’s succession planning, the company said.

To ensure a seamless transition, Glaser will remain with Tapestry until Oct. 1.

“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,” said Tapestry CEO Joanne Crevoiserat. “He leaves us with a solid foundation in place and strong team of tenured leaders.”

Prior to joining Tapestry, Roe spent eight years with VF Corp., serving as CFO from 2015 to 2021. In his new dual role at Tapestry, Roe will continue to lead the finance organization 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, Crevoiserat will assume direct oversight of the company’s strategy and consumer Insights team, which formerly reported to Roe.

“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,” said Crevoiserat. “I am very confident that Scott, together with our talented teams, will continue to optimize our robust operating platform as we move forward.”

In May, Tapestry reported a better-than-expected third-quarter with gains on its top and bottom lines as demand for luxury goods rebounds after plunging during the pandemic.

[Read More: Tapestry swings to Q3 profit; Coach sales hit pre-pandemic levels]

The company expects to report its fiscal 2022 fourth quarter and full-year results on Aug. 18.