Tiffany & Co. Chief Financial Officer Ralph Nicoletti will leave the company at the end of next week, just two years after joining the luxury jewelry retailer, to become the finance chief at a non-jewelry firm. Nicoletti’s resignation is effective as of May 20. Nicoletti’s total compensation at Tiffany in 2015 was $2.7 million, compared with $5.7 million in 2014, his first year at the company, The Wall Street Journal reported.
Nicoletti could earn at least $7.9 million in 2016 in his new job, which doesn’t include items such as 401(k) [retirement savings plan] contributions. Tiffany’s profit and comparable-store sales declined in its fourth fiscal quarter, the retailer reported in March, due to the strong dollar and uncertain economic and stock market conditions.