Tiffany Ceo Resigns

Luxury jewelry brand Tiffany & Co.'s (New York) Frederic Cumenal is stepping down after two years as ceo.

In 2015, Cumenal replaced Michael Kowalski, who will come out of retirement as interim ceo until a replacement is found, reports the New York Business Journal.

“At a time of continuing challenges in the global luxury market, Frederic has enhanced the management team and taken important steps to position Tiffany for success in the long term,” says Kowalski. “We wish him the best in his future endeavors.

Tiffany & Co.'s flagship location on New York’s Fifth Avenue near Trump Tower has reportedly experienced a sales slowdown amongst the protests and security positioned outside the building.