Kenneth Cole promotes vice chairman to CEO
US footwear and apparel company Kenneth Cole Productions has named Paul Blum, who has a long history with the company, as its new CEO.
Mr Blum was hired in March as vice chairman. Before that he was CEO of jewellery company David Yurman. But prior to that, he spent 15 years at Kenneth Cole. He joined as an executive vice president and became president and COO in 1994.
Kenneth Cole had been serving as interim CEO since Jill Granoff left in February. He remains chairman and chief creative officer.
Kenneth Cole has been cutting costs and streamlining its business in an effort to improve results. The New York-based company reported a first-quarter loss of $17 million, hurt by one-time charges related to its efforts to pare down, including closing struggling stores, laying off employees and offering big discounts to lure customers and clear out inventory.
But its revenue rose 7% to $117 million on strength in men’s shoes and sportswear.
