Tapestry, the parent company of renowned fashion brands Coach, Kate Spade, and Stuart Weitzman, has recently appointed Scott A. Roe as its new chief financial officer (CFO) and head of strategy. Roe will officially assume his role on June 1, 2021, succeeding interim CFO Andrea Shaw Resnick, who will now take on the newly created position of chief communications officer. Furthermore, Christina Colone, currently serving as the vice president of investor relations, will be promoted to global head. In his new position, Roe will oversee all finance functions and also lead the company’s strategy and consumer insights teams.
Roe brings with him an impressive 25-year career from VF Corporation, where he most recently held the position of CFO starting from April 2015. During his tenure at VF Corporation, Roe held several senior management roles, including vice president, controller, and chief accounting officer. He also served as the vice president of finance for VF’s Jeanswear and Imagewear coalitions, as well as the CFO of the International Business division. Prior to joining VF Corporation, Roe gained experience in the OEM Automotive and Basic Materials industries, having started his career at Ernst & Young.
Tapestry’s CEO, Joanne Crevoiserat, commended Roe’s extensive background in the consumer, retail, and apparel sectors, as well as his expertise in developing global multi-brand platforms. Crevoiserat described Roe as a strategic CFO with a commercial mindset and a focus on collaboration and high-performing teams. She expressed full confidence in Roe’s abilities to lead Tapestry and drive its future growth.
Roe himself expressed his enthusiasm for joining Tapestry, highlighting the company’s exceptional brands and its commitment to delivering results. He emphasized his dedication to enhancing the company’s strategy, financial performance, and operational excellence in the face of an ever-evolving consumer landscape.
Back in February, Tapestry had announced its expectation of a high-single digit increase in full-year revenue on a 52-week basis, and around 10 percent on a 53-week basis. Industry analysts had predicted a 6.9 percent rise in full-year revenue for the company. With the appointment of Roe as CFO and head of strategy, Tapestry aims to fortify its competitive position and sustain its growth trajectory.
Sources:
– Forbes Article
– Reuters Article
