Capri Holdings has disclosed that Thomas Edwards Jr, who holds the positions of executive vice-president, chief financial officer (CFO) and chief operating officer (COO), will be departing from the company to take on a new opportunity.
Edwards is scheduled to remain in his current role until 20 June 2025.
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He is set to join Macy’s, where he will take on the roles of COO and CFO.
During his eight years with Capri, Edwards has been instrumental in driving key initiatives including the acquisition and assimilation of the Versace and Jimmy Choo brands into the Capri portfolio. He also played a pivotal role in establishing shared services and infrastructure across the organisation.
The leadership shake-up comes after Donatella Versace assumed the role of brand ambassador for Versace on1 April 2025, stepping down from her chief designer duties.
Capri, the owner of the Versace, Jimmy Choo and Michael Kors brands, has begun the search for a successor to Edwards.
Rajal Mehta, currently serving as CFO for Michael Kors brand, will take over as the interim CFO of Capri Holdings.
Mehta’s experience spans multiple roles within finance since joining Michael Kors in 2008.
His previous positions include divisional vice-president for corporate financial planning and analysis at Capri Holdings and finance-related roles at Toys“R”Us and Ralph Lauren.
Patricia Gabriel will maintain her position as senior vice-president and chief supply chain officer, overseeing global operations.
Both Mehta and Gabriel will report directly to Capri Holdings chairman and CEO John Idol.
Idol stated: “I would like to thank Tom for his significant contributions and outstanding leadership over the past eight years and wish him all the best in his next role. We are pleased to announce that Rajal Mehta will assume the position of interim CFO. Raj has worked at the company for more than 16 years and has a strong understanding of our financial operations. I have full confidence in his ability to lead our finance team.
“Additionally, I am pleased to have Patricia Gabriel now reporting to me. Gabriel is a proven executive who has been with Capri since 2022 and has made a significant impact on strengthening our global operations and supply chain efforts. Capri Holdings has highly capable financial and operational organisations with seasoned executives to ensure continuity and stability during this transition.”
Capri reported a decrease in revenue for the third quarter (Q3) of the fiscal year 2025 (FY25), with earnings falling to $1.26bn from $1.42bn in Q3 FY24.
As of January 2025, Italian fashion brand Prada is reportedly evaluating the prospect of placing a bid for its counterpart Versace.
