Michael Kors CEO Joshua Schulman departs; John Idol remains Capri Chairman & CEO

Capri Holdings Ltd

Schulman departure effective March 7; severance includes $2.6M salary and $5.2M bonus over 2 years.
Idol signs new employment agreement; base salary reinstated to $1.35M from FY2023 (was $1.215M due to COVID-19).
Idol's annual cash incentive targets: 300% base for FY22, 200% for FY23+; max 400% of base.
Schulman's non-compete reduced to 6 months expiring Sept 2, 2022; mutual non-disparagement included.
Idol retains benefits: $50K/yr life insurance, automobile/driver, corporate aircraft use.

item 5.02 item 8.01 item 9.01

Executive movements

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Departed

Joshua Schulman

Chief Executive Officer of Michael Kors

CPRI · Capri Holdings Ltd

Effective: 2022-03-07
Filed: March 7, 2022, 6:59 PM ET

On March 7 , 2022, Capri Holdings Limited (the “Company”) announced that Joshua Schulman, Chief Executive Officer of Michael Kors, will depart from the Company, effective as of that same date

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

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

Action: departed
Role: Chief Executive Officer of Michael Kors

Exact text from the filing

On March 7 , 2022, Capri Holdings Limited (the “Company”) announced that Joshua Schulman, Chief Executive Officer of Michael Kors, will depart from the Company, effective as of that same date

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Capri Holdings Ltd filing history →

Source: SEC EDGAR

accession 0001530721-22-000022

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