Tiffany Operating, Finance Chief Fernandez to Retire

Tiffany & Co. said veteran executive James N. Fernandez will retire in July, ending a 30-year career with the high-end jewelry retailer.

Ralph Nicoletti, who is 56 years old, will replace Mr. Fernandez as Tiffany's finance chief April 2. Mr. Nicoletti will oversee the company's financial functions and its information technology, Tiffany said.

Mr. Nicoletti had resigned as insurer Cigna Corp.'s CFO in September.

The role of chief operating officer will be eliminated when Mr. Fernandez, 58 years old, retires in July. Before taking over as CFO last November, he had previously served in the role from 1989 to 2011.

"In addition to his extraordinary leadership of the financial and information technology organizations at Tiffany, Jim also played a critical role in building a world-class distribution, manufacturing and diamond-sourcing infrastructure," Chairman and Chief Executive Michael J. Kowalski said.

Tiffany is coming off a holiday season that met its expectations, with sales rising 4% on growth across all regions.

The company is expected to report fiscal fourth-quarter results Friday.

Shares of the company were inactive in premarket trading. The stock closed at $92.67 Tuesday, and is down slightly so far this year.

Write to Michael Calia at [e-mail]

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