On the move

Tiffany fires CEO Cumenal after poor results

Tiffany & Co abruptly replaced its CEO Frederic Cumenal after disappointing financial results, just before the jewelry chain was set to launch a new campaign with the first Super Bowl ad in its history. Cumenal, 57, who had run the company since April 2015, will be immediately succeeded on an interim basis by chairman and former CEO Michael Kowalski, Tiffany said on Feb 5. The shake-up follows the departure of the jeweler's top designer three weeks ago and weak holiday sales that sent the stock tumbling.

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