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UPDATE 1-Coach extends CEO Frankfort's tenure by 2 yrs
August 10, 2009 / 12:27 PM / 8 years ago

UPDATE 1-Coach extends CEO Frankfort's tenure by 2 yrs

NEW YORK, Aug 10 (Reuters) - Coach Inc (COH.N) extended the tenure of its chief executive, Lew Frankfort, by two years, the company said on Monday .

The U.S. maker of handbags and accessories said Frankfort, who will mark his 30th year with the company next month, will lead Coach through fiscal 2013. His earlier contract was set to expire in July 2011.

Coach said Frankfort has been given a performance-based award of restricted stock worth $10 million, which will vest on June 29, 2013 subject to the company meeting certain financial and strategic goals. (Reporting by Martinne Geller; Editing by Derek Caney)

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