Capri Names Former Coach Head to Succeed Idol as CEO Next Year

Capri Holdings Ltd., the owner of the Michael Kors and Versace luxury brands, said John Idol will step down as chief executive officer next year.

Joshua Schulman, the former head of rival label Coach, was named CEO of Michael Kors Tuesday and will succeed Idol atop the parent company in September 2022. At that time, Idol will move to the role of executive chairman, Capri said in a statement.

The change shakes up the company as high-end apparel brands seek to capitalize on a rebound in consumer spending as the pandemic wanes. Capri, which also owns Jimmy ...