Koutsolioutsos bows out of CEO post at Folli Follie

TAGS: Business

Tzortzis Koutsolioutsos tendered his long-overdue resignation from the post of chief executive officer at troubled jewelry maker Folli Follie on Tuesday, in a letter to the group’s chairman and board members.

The company’s creditors had been demanding his departure for several months. Meanwhile the Folli Follie bondholders continue their due diligence of the company, while negotiations over the agreement terms are ongoing.

The draft streamlining agreement is expected to be submitted to court by late January.