Signet Jewelers appoints Mark Light as CEO

Current CEO Michael Barnes to retire by end-October 2014
Signet Jewelers appoints Mark Light as CEO

Signet Jewelers Limited announced receiving a resignation from Michael Barnes from the role of Chief Executive Officer and at Signet's board of directors. His resignation comes into effect from October 31, 2014, as per the company.

The jeweller also noted that Mark Light, currently serving as Signet's President and Chief Operating Officer, will succeed Mr. Barnes in the role of Chief Executive Officer and also join Signet's board of directors.

Todd Stitzer, Chairman said "Mark is an experienced, strategic leader. ” He further added that “the Board of Directors is confident that Mark is the right person to lead the Company forward as Signet enhances its position as a leading retailer in the US, UK and Canada." Mark has been instrumental in various projects and developments at the company including Vision 2020 Strategy, the Zale acquisition, Sterling division's consistently profitable growth, Signet's growth strategy, an advisor to Signet’s UK Managing Director since 2013 taking formal responsibility for that business in mid-2014.

Mr. Stitzer added, "Mike has been the leader of the Signet executive management team during a period of outstanding transformation and growth. We understand and respect his personal desire to relocate nearer to his family and pursue opportunities closer to his home in Dallas at this time. On behalf of Signet, I thank Mike for his many contributions to Signet and wish him well in his future endeavors."

Signet is also reaffirming its financial guidance initiated in its second quarter earnings released on August 28, 2014.


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