Coach Executive Chairman Lew Frankfort To Retire In November

(RTTNews) - Coach, Inc. (COH) said Thursday that Executive Chairman Lew Frankfort will retire from the company at the expiration of his term on the date of the company's 2014 Annual Meeting of Stockholders in November.

Frankfort will also not stand for re-election to the Coach Board.

The company plans to bestow upon him the honorary title of Chairman Emeritus at that time.

"Lew Frankfort, who marks his 35th anniversary with the company this week, is often referred to as the second founder of Coach. Under his leadership, we created the accessible luxury handbag and accessories market in North America and took the brand global, driving sales from $6 million to $5 billion. His contributions are truly immeasurable, and I am fortunate to know him both as a friend and a mentor," said Victor Luis, Chief Executive Officer of Coach.

Coach also said that it expects Jide Zeitlin, currently lead outside director, to be appointed the next Chairman of the Board following the company's annual meeting in November.