NEW YORK, November 6, 2002 – Tiffany & Co. (NYSE: TIF) announced today that Linda Hanson, its senior vice president – merchandising, has resigned. Her resignation will become effective February 1, 2003.
Michael J. Kowalski, president and chief executive officer, stated, 'Following Linda's departure, all merchandising functions will report directly to me. It is a responsibility I have had in the past and I am looking forward to a period of more intense involvement while we consider how best to organize these functions.'
Mr. Kowalski added,'Over the past 13 years Linda has contributed enormously to the success of Tiffany & Co. We would prefer that she remain, but she is unshaken in her resolve to effect a professional and lifestyle change. We will miss her as a full-time executive, but look forward to her continued involvement as a consultant on a number of projects.'
Tiffany & Co. is the internationally renowned jeweler and specialty retailer. Sales are made primarily through company-operated TIFFANY & CO. stores and boutiques in the Americas, Asia-Pacific and Europe. Direct Marketing includes Tiffany's Business Sales division, catalog and Internet sales. Additional information can be found on Tiffany's Web site, www.tiffany.com, and on its shareholder information line (800) TIF-0110.
James N. Fernandez
Mark L. Aaron