February 21, 2017 / 12:00 PM / 6 months ago

CORRECTED-Tiffany to add directors in deal with activist hedge fund Jana

(Corrects paragraph 2 to say Farah is the current co-CEO of Tory Burch, not former co-CEO)

Feb 21 (Reuters) - Luxury jewelry retailer Tiffany & Co said it would appoint three independent directors to its board in a deal with activist investor Jana Partners LLC.

The company said it would add Roger Farah, 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. (Reporting by Siddharth Cavale in Bengaluru; Editing by Saumyadeb Chakrabarty)

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