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Tapestry Inc. administrator and CEO Jide Zeitlin, one of the few Black arch admiral amidst Fortune 500 companies, has accommodated from all roles at the ancestor aggregation to Coach, Kate Spade and Stuart Weitzman amidst a lath analysis into his claimed behavior involving a changeable archetypal 13 years ago, The Wall Street Journal aboriginal appear on Tuesday.
Tapestry said Zeitlin had accommodated for “personal reasons” afterwards beneath than a year in the role. But the Journal appear that the aggregation had assassin a law close afore his abandonment to investigate allegations aloft by a woman who accused Zeitlin of assuming as a columnist to allurement her into a adventurous accord in 2007.
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Tapestry hasn’t responded to an analysis by Observer for added comment.
“In the accomplished month, a woman I photographed and had a accord with added than 10 years ago accomplished out to assorted media organizations to accurate her apropos about what had occurred,” Zeitlin said in a account Tuesday. “I acquainted accountable to abandon today because I do not appetite to actualize a aberration for Tapestry, a aggregation I affliction acutely about.”
The woman met Zeitlin in 2007, a year afterwards he abutting Tapestry’s board, on a website area he airish as a columnist beneath an alias, a being accustomed with the bearings told the Journal. They afterwards entered into a adventurous relationship, but Zeitlin never appear his accurate identity, this being said.
In 2009, Zeitlin was nominated by again President Barrack Obama to serve as an agent to the United Nations for banking overhaul. But he withdrew the choice alike afterwards it was accustomed by the Senate Foreign Relations Committee. The woman played a role in his withdrawal, the Journal‘s antecedent said.
Zeitlin was adopted from Nigeria and aloft in the U.S. He’s a alum from Amherst College and holds an MBA from Harvard Business School. Afore abutting Tapestry, he formed as an advance broker for Goldman Sachs for two decades.
One of the alone four Black CEOs in Fortune 500 companies, Zeitlin is the face of ancestral assortment and adequation campaigns in accumulated America. Last month, he acquired boundless absorption for autograph a letter to Tapestry agents about civilian rights and the Black Lives Matter movement. The letter was appear on LinkedIn.
Tapestry said its Arch Banking Officer Joanne Crevoiserat will serve as acting CEO while the aggregation looks for a abiding replacement. Current lath affiliate Susan Kropf will booty over as the company’s chairperson.
“[Zeitlin] led with purpose during these aberrant times. We acknowledge him for all he has done for the Aggregation and abide committed to continuing this important work,” Kropf said in a account on Tuesday.
Like abounding of its associate retail giants, Tapestry has apparent its abundance business aerobatics back the coronavirus outbreak. This year so far, the company’s banal has collapsed added than 50 percent. Tapestry is accepted to address second-quarter balance on August 13.
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