London, UK — Capri Holdings Limited  announced Michael Kors is reorganizing its leadership team.

John D. Idol, Chairman and Chief Executive Officer of Capri Holdings, will assume the role of CEO of Michael Kors, replacing Cedric Wilmott as the brand’s top executive.

Effective December 2,  Philippa Newman will be promoted to Michael Kors Chief Product Officer.

Ms. Newman joined Michael Kors over 14 years ago having most recently served as the President of Accessories and Footwear. In this new role, Ms. Newman will report to Mr. Idol and oversee merchandising, production, licensing and design across all product categories, in partnership with Chief Creative Officer Michael Kors.

“I am excited to continue to partner with Michael, John and the leadership team to achieve our strategic objectives and reinvigorate the Michael Kors brand,” said Philippa Newman. “Michael Kors has strong brand equity and tremendous potential. I am confident that by consolidating design, merchandising, production, and licensing under a unified team we can more effectively execute our strategies, including delivering more targeted product to different consumer cohorts, in order to return Michael Kors to growth.”

Mr. Idol said  “As I stated on our recent investor call, we are moving quickly to implement strategic initiatives to stabilize revenues and return to growth. This reorganization reinforces Michael Kors’ plans to engage and energize both new and loyal consumers, create exciting fashion and core products with compelling value, improve store productivity and return our wholesale business to growth. Philippa is a dynamic leader with an exceptional breadth of experience developing compelling product for our consumers. I am confident that in her new role as Chief Product Officer for Michael Kors she will successfully lead the execution of our product transformation strategy and drive growth for Michael Kors across all channels.”