Business Context and Reporting Period
This Form 8-K is a current report filed by Coach, Inc. (noting the metadata reference to Tapestry, Inc., which was the result of a later merger) on May 30, 2014. The filing addresses corporate governance changes regarding the Board of Directors.
Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report is strictly limited to Item 5.02 regarding officer and director departures and appointments.
Material Changes
- Resignation: Irene Miller resigned from the Board of Directors effective immediately on May 30, 2014, for personal reasons.
- Committee Role: Ms. Miller was serving as the Chair of the Audit Committee at the time of her departure.
- Board Size Reduction: On June 4, 2014, the Board voted to reduce its size to ten members following the resignation.
- Appointment: On June 4, 2014, Director Michael Murphy was appointed to succeed Ms. Miller as Chair of the Audit Committee. Mr. Murphy previously held this role from 2000 to November 2012.
Guidance, Outlook, and Risks
The filing contains no financial guidance, outlook, or discussion of risks and contingencies. Management commentary is limited to Executive Chairman Lew Frankfort acknowledging Ms. Miller's contributions since joining in May 2001.
Key Facts for Investor Verification
- Verify the effective date of Irene Miller's resignation (May 30, 2014).
- Confirm the appointment of Michael Murphy as the new Audit Committee Chair.
- Note the reduction of the Board of Directors to ten members.
- Check subsequent filings for any impact on the Audit Committee's oversight or financial reporting processes.