NEW YORK — Lew Frankfort’s role as executive chairman of Coach Inc. is moving to part-time from full-time and his salary to $500,000 from $1.5 million.
In a disclosure with the Securities and Exchange Commission Wednesday, Coach said Frankfort, who also served as the company’s chief executive officer from 1995 until earlier this year, began working in a part-time capacity on Tuesday. As amended, the revised contract will be in force until Coach’s annual stockholders meeting, scheduled for Nov. 6.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)