Tapestry adds two new members to board

Tapestry Inc. announced on Thursday the appointment of Kevin Hourican and David Elkins to the fashion group’s board of directors, taking the total board count to eleven.

Hourican currently serves as president and chief executive officer of Sysco Corporation, a role he has held since February 1, 2020. Prior to Sysco, he served as executive vice president of CVS Health Corporation, and president of CVS Pharmacy, overseeing CVS Health’s $85 billion retail business, including 9,900 retail stores and over 200,000 employees, as well as merchandising, marketing, supply chain, real estate, front store operations, pharmacy growth, pharmacy clinical care and pharmacy operations.

Prior to joining CVS Health, Kevin held executive leadership roles at Macy’s, most recently serving as senior vice president, regional director of stores.

Likewise, Elkins currently serves as executive vice president and chief financial officer of Bristol Myers Squibb. The executive joined BMS as a result of the acquisition of Celgene, where he was executive vice president and chief financial officer. Prior to Celgene, he served as chief financial officer for Johnson & Johnson’s consumer products, medical devices, and corporate functions. Before J&J, he served as executive vice president and CFO of Becton, Dickinson & Company, and held roles of increasing responsibility at AstraZeneca from 1995 to 2008. He began his career in finance at The Boeing Company. 

“We are pleased to welcome Kevin and David to our board – two proven leaders in driving global growth and transformation at scale,” said Joanne Crevoiserat, chief executive officer of Tapestry, Inc.

“I am confident that their experience and insights will be invaluable, particularly at this exciting time in our company’s history. I look forward to working with them as we execute our strategic agenda and position Tapestry as a leader in innovation and shareholder returns for years to come.”

In its most recent trading update, Tapestry, which owns the Coach, Kate Spade, and Stuart Weitzman brands, said net sales rose to $2.08 billion in the quarter ended Dec. 31, above LSEG estimate of $2.06 billion.

As a result, the New York-based company raised its annual profit forecast, betting on full-price sales of its premium handbags and early signs of a demand recovery in key market China.