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LIZ Appoints Third CFO since Mid-2007 - Also Cuts 2012 Guidance

|Includes: Kate Spade & Company (KATE)

Liz Claiborne, Inc. (NYSE: LIZ) announced yesterday that CFO Andrew Warren is leaving the company by mutual agreement on 16-Mar-2012. Warren has served as CFO since July 2007.

Warren’s replacement will be the third CFO at LIZ since mid-2007. Michael Scarpa served as CFO from July 2000 until Warren’s appointment in 2007. Scarpa also served as COO from January 2007 until November 2008 when he left the company.

LIZ announced a guidance cut today, reducing fiscal 2012 adjusted EBITDA guidance from $130 million - $150 million to $125 million - $140 million.

Here is the press release.