Nicholas Rubino is leaving Fifth & Pacific Cos. Inc.
The company said in a regulatory filing that Rubino, senior vice president, chief legal officer, general counsel and secretary of the company, will exit the company on Saturday.
Chris DiNardo, who’s served as vice president and deputy general counsel for the company, will assume many of his duties as senior vice president, general counsel and secretary.
Rubino joined the company, then Liz Claiborne Inc., in 1994 and has served as its general counsel since 2007 and as senior vice president and chief legal officer since 2008. He would have been eligible for retirement next May, according to the Form 8-K filed this week with the Securities and Exchange Commission.
F&P sold Lucky Brand Jeans to an affiliate of Leonard Green & Partners for $225 million earlier this month following the sale in October of the intellectual property assets of Juicy Couture to Authentic Brands Group for $195 million. The two divestitures leave F&P as a monobrand company with ownership of the Kate Spade business.
In connection with his departure from the company, termed a “separation without cause,” Rubino will receive $1.75 million in cash, representing two times his base salary and target bonus. Unvested stock options will continue to vest according to their original conversion schedule. He will also remain eligible for his annual incentive bonus for the current year.
Payments are contingent upon a mutual general release of claims by Rubino and the company.