Tiffany Names Mark Erceg CFO

Tiffany & Co. on Tuesday said it named former Canadian Pacific Railway Ltd. executive Mark Erceg as the luxury jewelry retailer's next chief financial officer.

Mr. Erceg last week stepped down as chief financial officer of Canadian Pacific after 16 months with the railroad operator.

Tiffany said Mr. Erceg, who will join the company next month, succeeds Ralph Nicoletti, who left in May to become CFO at consumer-goods company Newell Brands Inc.

Mr. Erceg has also served as CFO of doormaker Masonite International Corp. and worked for 18 years at Procter & Gamble Co.

"Mark brings an operational process orientation and a broad financial, international and consumer brands background to Tiffany," Chief Executive Frederic Cumenal said.

Tiffany last month said same-store sales fell 8% in its fiscal second-quarter, extending a string of declines. Tiffany is heavily dependent on foreign tourists, who have been buying less because of the strong dollar.

Write to Austen Hufford at [e-mail]

(END) Dow Jones Newswires

September 13, 2016 07:55 ET (11:55 GMT)

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