Capri Holdings CFO Departure Sparks -1.5% Share Drop

By Tamara Parker • Tuesday, April 01 15:15 • Permanent Link

Capri Holdings Limited (NYSE: CPRI) has announced the upcoming departure of Thomas J. Edwards, Jr., who currently serves as the company's Executive Vice President, Chief Financial Officer, and Chief Operating Officer. Mr. Edwards will be leaving the company to pursue another opportunity and is expected to remain with Capri Holdings until June 20, 2025.

Following Mr. Edwards' departure, Rajal Mehta, the current Chief Financial Officer of Michael Kors, will step into the role of interim Chief Financial Officer for Capri Holdings. Additionally, Patricia Gabriel, the Senior Vice President and Chief Supply Chain Officer of Capri Holdings, will continue to lead global supply chain and operations.

Rajal Mehta, who has been with Michael Kors since 2008, has a strong finance background, having held various roles within the finance organization across corporate, retail, and wholesale. He has been serving as the Chief Financial Officer of the Michael Kors brand since December 2024.

Patricia Gabriel, a proven executive who has been with Capri Holdings since 2022, will now report directly to John D. Idol, the company's Chairman and Chief Executive Officer. Mr. Idol expressed his gratitude for Mr. Edwards' contributions and leadership over the past 8 years, and he expressed confidence in the ability of both Mr. Mehta and Ms. Gabriel to ensure continuity and stability during this transition.

Capri Holdings Limited is a global fashion luxury group that includes iconic brands such as Versace, Jimmy Choo, and Michael Kors. The company's commitment to glamorous style and craftsmanship is evident in its diverse luxury product offerings that cater to various fashion categories.

During the transition, the company remains confident in the initiatives outlined at its recent investor day and believes that it has the right strategies in place to drive growth in the future.

As of now, the company has not provided specific financial metrics related to the transition. Today the company's shares have moved -1.5% to a price of $19.44. For more information, read the company's full 8-K submission here.

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