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Coach chairman to stay on

11/08/2009
Luxury goods company Coach has authorised a four-year, performance-based share award for Lew Frankfort, its chairman and CEO. The award was granted in order to allow Mr Frankfort to continue in his role for an extra two years. His current contract was set to expire in July 2011, but he will now remain in his post until 2013.

Mr Frankfort said: “I am very pleased to have the opportunity to lead Coach through fiscal year 2013. We’re at an important inflection point as we accelerate our international expansion while continuing to increase our market share here in North America. We recently announced fiscal year 2009 results that demonstrated Coach’s strength and resiliency against an extraordinarily weak retail backdrop. I look forward to continuing to work with Coach’s strong and seasoned management team to achieve our long term goals.”

He will celebrate his 30th year with the company next month.


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