Tiffany to add directors in deal with activist hedge fund Jana

Fred Imbert | CNBC

Tiffany & Co. store in Philadelphia, PA.

Luxury jewelry retailer Tiffany said it would appoint three independent directors to its board in a deal with activist investor Jana Partners.

The company said it would add Roger Farah, a former co-chief executive of handbag maker Tory Burch, and James Lillie, a former CEO of Jarden Corp., to its board.

Francesco Trapani, who owns an about 5.1 percent stake in the company along with Jana, will also join the board, increasing its size to 13.


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