NEW YORK, Feb. 28, 2011 /PRNewswire/ -- The Board of
Directors of Kenneth Cole Productions, Inc. (NYSE: KCP), a leading
designer and marketer of fashion footwear, apparel and accessories,
today announced that they and Chief Executive Officer Jill Granoff have mutually agreed that Ms.
Granoff will leave her position as Chief Executive Officer of the
Company and resign her seat on the Company's Board, effective
immediately. Kenneth Cole, Chairman
and Chief Creative Officer, will act as Interim Chief Executive
Officer. Paul Blum, who was with the
Company for 15 years and served as President from 2002 to 2006, has
agreed to return to the Company and assume the role of Vice
Chairman.
"I would like to thank Jill for her contributions and dedication
to the company," said Mr. Cole. "I have a very high regard for her,
and appreciate all of her efforts over the last couple of years. I
wish her the best in her future endeavors."
"It is with mixed emotions that I announce my departure from
Kenneth Cole," said Ms. Granoff.
"Over the past three years I've worked with a great team on a great
brand. Despite a challenging business environment, together we have
been able to build a more productive organization that is well
positioned for the future. I look forward to exciting opportunities
ahead and wish Kenneth and the team continued success."
Mr. Cole continued, "I'm pleased that Paul will be returning to
the company and I look forward to working together again. He is
intimately familiar with our business and shares my view and that
of the Board that it holds significant untapped potential. I am
confident Paul will play a critical role in executing the Company's
goals and strategic agenda, building on the momentum of our current
business partnerships, and capitalizing on global
opportunities."
"It will be exciting to reunite with Kenneth Cole Productions
and play an expanded role in the evolution of a business and brand
I know very well," said Mr. Blum. "It is a privilege to return to
work with an individual and organization I hold in the highest
regard. I look forward to helping maximize the business
opportunities and leverage this powerful brand."
Mr. Blum served as Chief Executive Officer of David Yurman from 2006-2010, helping widen the
Company's reach by expanding the luxury brand globally. Under
Paul's leadership, the Company grew significantly in sales,
developed a strong retail operation, created an industry leading
luxury e-commerce business, diversified its product offerings with
strategic licensing arrangements, and developed a global business
with company-owned operations in Asia and Europe. Previously, he was with Kenneth
Cole Productions from 1991 to 2006. Four of those years were spent
as President where he was instrumental in building the Wholesale
and Consumer Direct divisions and helping them to achieve record
sales and profitability. He also oversaw the management of
operations, marketing and finance. Prior to serving as President,
Mr. Blum served as the Company's Chief Operating Officer and
Executive Vice President.
About Kenneth Cole Productions, Inc.
Kenneth Cole Productions, Inc. designs, sources, and markets a
broad range of footwear, handbags, apparel and accessories under
the brand names Kenneth Cole New York; Kenneth Cole Reaction;
Unlisted; and Le
Tigre, as well as footwear under the proprietary
trademark Gentle Souls. The Company has also granted
a wide variety of third party licenses for the production of men's,
women's and children's apparel as well as fragrances, watches,
jewelry, eyewear, and several other accessory categories. The
Company's products are distributed through department stores,
better specialty stores, company-owned retail stores and its
e-commerce website. Further information can be found at
http://www.kennethcole.com/.
Forward Looking Statement Disclosure
The statements contained in this release that are not historical
facts may be deemed to constitute "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act
of 1995. Actual future results might differ materially from those
projected in such statements due to a number of risks and
uncertainties, including but not limited to, demand and competition
for the Company's products, the ability to enter into new product
license agreements or to renew or replace existing product licensee
agreements, changes in consumer preferences or fashion trends,
delays in anticipated store openings and closings, and changes in
the Company's relationships with retailers, licensees, vendors and
other resources. The forward looking statements contained herein
are also subject to other risks and uncertainties that are
described in the Company's reports and registration statements
filed with the Securities and Exchange Commission.
SOURCE Kenneth Cole Productions, Inc.