NEW YORK (AP) -- Liz Claiborne Inc. is hiring a former Tommy Hilfiger executive as its new chief financial officer and chief operating officer as it tries to cut costs, saying that he had done well previously in such a combined role.
The New York-based clothing company said Tuesday that George Carrara, 43, would come on board starting April 2.
Liz Claiborne, which is being renamed Fifth & Pacific Cos., is transforming its business in a bid to be more profitable. It sold its Liz Claiborne and Monet brands to J.C. Penney and its Mexx business to a joint venture led by the private equity firm The Gores Group to focus on more profitable brands such as Juicy Couture, Lucky Brand and Kate Spade.
Carrara replaces Andrew Warren, who had held the position since 2007, and announced in January he would leave in March to join Discovery Communications Inc.
Carrara was COO at Tommy Hilfiger North America, owned by PVH Corp., until last year.
Liz Claiborne shares rose 10 cents to $11.94 in morning trading.