Kenneth Cole, chairman and chief creative officer of Kenneth Cole Productions will now be the holder of approximately 46% of the company's common stock and will have 89% of the voting power.
Kenneth Cole Productions' board of directors has formed a special committee of independent directors to consider a non-binding proposal from Kenneth Cole, chairman and chief creative officer, that would take the company private.
Kenneth Cole Productions announced that effective June 20, 2011, Paul Blum will be appointed to the position of CEO.
Jill Granoff is stepping down as CEO of Kenneth Cole Productions. According to a company press release the decision was a mutual agreement between Granoff and the board of directors.