Bakst will leave her position with the fashion brand at the end of the calendar year. She began her role in April 2018.
Joanne Crevoiserat, Tapestry’s chief financial officer, will act as interim CEO whilst the brand begins a search to fill Bakst’s position.
Crevoiserat will directly oversee Kate Spade’s strategy and operations, and work closely alongside the brand’s senior leadership team.
Jide Zeitlin, chairman and chief executive officer of Tapestry, Inc, said: “We thank Anna for the passion and commitment she has brought to her work at Kate Spade.
“We are moving ahead quickly with a search process. Our strong Kate Spade leadership team, working with Joanne, will take the business forward aligned with Nicola Glass’s creative vision.”
She added: “Quarter-to-date, Kate Spade’s performance is on track and we are confident in our ability to meet our holiday season goals. We look forward to providing details about our second quarter results during our upcoming earnings call in February.”
Tapestry Inc. is the parent company of several modern luxury lifestyle brands, including Coach, Stuart Weitzman and Kate Spade.