Michael Kors is reorganizing its leadership team, appointing John D Idol as its new CEO.

Idol is the chairman and CEO of Michael Kors parent Capri Holdings and will succeed Cedric Wilmotte.

Michael Kors also promoted Philippa Newman, president of accessories and footwear, to chief product officer, effective December 2.

“Michael Kors has strong brand equity and tremendous potential,” said Newman.

“I am confident that by consolidating design, merchandising, production, and licensing under a unified team we can more effectively execute our strategies, including delivering more targeted product to different consumer cohorts, in order to return Michael Kors to growth.”

The announcement of the new appointments follows the termination of the definitive merger between Capri Holdings and Tapestry due to the unlikelihood of receiving the required US regulatory approvals.