Kenneth Cole president resigns
NEW YORK – Kenneth Cole Productions Inc. said Monday that Paul Blum has stepped down as president of the company.The New York-based clothing and accessories company said Kenneth Cole, chairman and chief executive, will temporarily assume Blum’s responsibilities, with assistance from management team members Richard Olicker and Henrik Madsen Jensen.Blum, who joined the company in May 1990 and served as president since March 2002, resigned to “pursue other opportunities,” the company said in a statement.”He began with the company when we were a small footwear business, and his contributions have helped us grow to become the multi-brand, dual-gender, international lifestyle business that we are today,” the company’s founder said in a statement. “We appreciate Paul’s dedication and commitment during his long tenure with the company and wish him the best in his future endeavors.”Shares of Kenneth Cole rose 1.9 percent to close at $28.52 Friday on the New York Stock Exchange. The stock has traded between $23.81 and $35.29 over the past 12 months.
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