Tiffany & Co. (2007-2013)

Tiffany & Co. (“Tiffany”) is a premier global jeweler and specialty retailer, whose merchandise offerings include an extensive selection of jewelry, as well as timepieces, sterling silverware, china, crystal, stationery, fragrances and accessories.

Trian was attracted to Tiffany as the premier global U.S. luxury brand with more than 170 years in business. Trian identified opportunities for the company to focus on the core brand and divest of non-core assets, focus capital and new store growth in Asia (ex-Japan) and Europe, and expand the brand into complementary and high-margin product categories. In February 2007, Trian announced its investment in Tiffany.

In early 2008, Peter May was invited to join the Tiffany board. Subsequently, Tiffany increased growth targets in key international markets. The company later divested non-core assets including Little Switzerland and Iridess. Additionally, Tiffany improved its management of capital expenditures and working capital through the deep luxury downturn.

Trian believes the company’s ability to successfully execute on many of its initiatives has enhanced the long-term value of the company. In 2012, Trian substantially exited its investment in Tiffany. Trian sold the remainder of its position in June 2016. In May 2017, Peter May did not stand for reelection to Tiffany’s Board of Directors.

Sector: Consumer

Company Website:

Former Trian Board Member

Peter W. May