Tiffany Ceo Announces Retirement

Tiffany & Co's (New York) Michael Kowalski has announced he will retire next year after 15 years as ceo and 31 total years working for the upscale jewelry retailer.

He has named current Tiffany president Frederic Cumenal as his successor; Cumenal will take over April 1 after four years with the company.

Cumenal joined Tiffany in 2011 after a 15-year stint at Louis Vuitton brand owner LVMH Group, where he was most recently the president and ceo of French champagne maker Moet & Chandon, according to Reuters.