Jide Zeitlin, Chairman and CEO of Tapestry, stepped down on Tuesday to investigate his personal behavior, a source familiar with the matter said.
According to the source, Tapestry’s board of directors had hired a law firm to investigate allegations by at least one woman from Zeitlin who posed as a photographer over a decade ago to lure her into a romantic relationship.
Tapestry said earlier in the day that Zeitlin had resigned for personal reasons, the last of a series of senior executive departures at the coach handbag manufacturer last year.
A Zeitlin representative did not immediately respond to a request for comment. Zeitlin informed the Wall Street Journal, however, that he was forced to resign because he wanted “no distraction” for the company.
Zeitlin, chairman since 2014, took over from Victor Luis in September when the company struggled to integrate its Kate Spade brand and keep up with the latest fashion trends.
He had agreed to run the fashion house for the next three years. CFO Joanne Crevoiserat, a former Abercrombie & Fitch executive, was named interim CEO, while Andrea Resnick, head of investor relations and corporate communications, was appointed interim CFO.
Susan Kropf, senior independent director, has been appointed Chairman of the Board.
Tapestry said it would consider both internal and external candidates when looking for a permanent CEO. Since December the company has also seen the exits of the head of his trainer and Kate Spade Brands.
Tapestry announced on Tuesday that fourth quarter sales exceeded internal expectations and gross margin increased.