Kenneth Cole CEO out

New York City -- Jill Granoff, chief executive of Kenneth Cole Productions, announced her resignation on Monday, effective immediately. She had company for three years.

In a statement, the company described the decision to find a new CEO as "mutual."

Kenneth Cole, who founded the firm in 1982, will take on Granoff’s duties temporarily as the search for a new CEO begins.

The firm has also brought on Paul Blum, a 15-year veteran at Kenneth Cole who served as president from 2002 through 2006, as vice chairman. Blum most recently helmed jewelry company David Yurman, until his resignation last year.