Joshua Shulman exits Michael Kors and Capri Holdings

Joshua Schulman is to exit Capri Holdings, six months into his tenure as CEO of Michael Kors.

Schulman was expected to become CEO of the entire group in September, succeeding chairman and CEO John Idol. The group also operates Versace and Jimmy Choo, in addition to Michael Kors.

A reason for Schulman’s exit was not immediately provided, however Mr Idol said in a statement: “At Capri Holdings, we are executing against our clear strategic vision for growing our three powerful fashion luxury brands and seeing strong results. We remain well-positioned to achieve meaningful long-term revenue and earnings growth as well as deliver increased value for our shareholders. I am fully committed to continuing to lead Capri Holdings and driving our future success.”

Commenting on Michael Kors' management team Mr Idol said: “Michael Kors has a talented management team in place that will continue to execute on its strategic initiatives. The strategies that we put in place prior to the pandemic have been generating strong consumer demand and driving higher profitability as we continue to elevate brand positioning. The Board and I remain extremely optimistic about the future growth of Michael Kors and Capri Holdings. We are grateful to Josh for his contributions to our organization.”