Capri Holdings has announced leadership changes at Michael Kors, with John Idol, the group’s chairman and CEO, set to take over as CEO of Michael Kors from December 2, 2024. Idol will succeed Cedric Wilmotte, who is stepping down after just over a year due to the brand’s reorganization and cost-cutting efforts. Additionally, Philippa Newman, a Michael Kors veteran with 14 years at the brand, will be promoted to chief product officer, overseeing merchandising, production, licensing, and design across all product categories. These changes are part of Capri’s push to revitalize the label, which recently reported a 16% decline in revenue.