Capri Holdings appoints Joshua Schulman as Michael Kors CEO; to succeed Idol as Capri CEO in Sep 2022

Capri Holdings Ltd

Joshua Schulman, former Coach CEO at Tapestry and Jimmy Choo CEO, becomes Michael Kors CEO effective Aug 24, 2021.
Schulman will succeed John D. Idol as Capri Holdings CEO on/about Sep 1, 2022; Idol will become Executive Chairman.
Schulman's base salary $1.2M as Michael Kors CEO, rising to $1.3M as Capri CEO; guaranteed cash incentives $700K (FY2022) and $500K (FY2023).
Schulman receives ~$15M long-term incentive award in RSUs vesting over 5 years.
Idol's base salary reinstated to $1.35M in FY2023, then $1M in FY2024; cash incentive targets reduced after transition.

item 5.02 item 8.01 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Appointed

Joshua Schulman

Chief Executive Officer of Michael Kors

CPRI · Capri Holdings Ltd

Effective: 2021-08-24
Filed: August 27, 2021, 7:59 PM ET

Joshua Schulman is being appointed to the newly-created role of Chief Executive Officer of Michael Kors effective that same date (the “ Commencement Date ”).

Role change

Joshua Schulman

Chief Executive Officer of the Company

CPRI · Capri Holdings Ltd

Effective: 2022-09-01
Filed: August 27, 2021, 7:59 PM ET

immediately following the earlier of (i) September 1, 2022 and (ii) the date that the Current CEO of Capri (as defined in the Schulman Employment Agreement) ceases to hold that position for any reason, Mr. Schulman will be promoted to the position of Chief Executive Officer of the Company

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Joshua Schulman was appointed as Chief Executive Officer of Michael Kors at Capri Holdings Ltd.

Action: appointed
Role: Chief Executive Officer of Michael Kors

Exact text from the filing

Joshua Schulman is being appointed to the newly-created role of Chief Executive Officer of Michael Kors effective that same date (the “ Commencement Date ”).

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.85

Joshua Schulman changed role as Chief Executive Officer of the Company at Capri Holdings Ltd.

Action: promoted
Role: Chief Executive Officer of the Company

Exact text from the filing

immediately following the earlier of (i) September 1, 2022 and (ii) the date that the Current CEO of Capri (as defined in the Schulman Employment Agreement) ceases to hold that position for any reason, Mr. Schulman will be promoted to the position of Chief Executive Officer of the Company

View on SEC.gov

Capri Holdings Ltd filing history →

Source: SEC EDGAR

accession 0001530721-21-000152

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