Liz Claiborne Inc. announced that William L. McComb, Company Group Chairman at Johnson & Johnson has been appointed Chief Executive Officer and a member of the Board of Directors, effective November 6, 2006. Mr. McComb, who will succeed Paul R. Charron as Chief Executive Officer, is a proven executive with expertise in the areas of global brand-building, consumer marketing and advertising. Mr. Charron, who previously announced his intention to retire from the company, will remain Chairman through the end of 2006 and will become Chairman Emeritus as of January 1, 2007. He will also provide consulting services to the company for one year. The Company also announced today that Kay Koplovitz has been appointed non-executive Chairman of the Board of Directors, effective January 1, 2007. In this position, she will manage the business of the Board of Directors and provide support and counsel to the CEO. Commenting on the announcement, Mr. Charron said, “Bill is a talented and proven leader who brings an ideal combination of skills and experience to lead Liz Claiborne forward. He is a creative thinker and intuitive marketer with proven success in revitalizing key brands and marketing to women. We are confident that Liz Claiborne will greatly benefit from his unique perspective, proven track record of managing a portfolio of global brands and deep international experience. Bill has a keen understanding of the dynamics of marketing to consumers, anticipating trends and building relationships with business partners. His background will complement the strong talent and capabilities that we have developed in-house and will be instrumental in leading Liz Claiborne through its next stage of growth.” Mr. McComb, 43, serves as Company Group Chairman at Johnson & Johnson, with responsibility for operations in over 100 countries, 5,000 employees and $3.8 billion in sales. During his 14-year tenure with Johnson & Johnson, Mr. McComb has overseen some of the company’s largest and most successful consumer product businesses and brands, including Tylenol, Motrin, and Clean & Clear. Following his success in Johnson & Johnson’s consumer and pharmaceutical segments, Mr. McComb became Company Group Chairman in 2005. His experience also includes a number of marketing and brand management-related posts in Johnson & Johnson’s OTC and skincare businesses and with the Leo Burnett advertising firm.