Online diamond and fine jewelry retailer Blue Nile, Inc. on Thursday announced the addition of Michael Potter and Steve Scheid to its board of directors, which now increases the number of board members to eight.

Potter brings extensive experience in retail management, strategic planning, and finance to the Seattle-based company. He served as the chairman and chief executive officer of Big Lots, Inc., a Fortune 500 retailer, from June 2000 through June 2005—where he previously held several positions, including chief financial officer.

Prior to Big Lots, Potter’s retail experience included The Limited, Inc., May Department Stores, and Meier & Frank.

Potter currently serves on the board of directors of Coldwater Creek, Inc., a multi-channel retailer of women’s apparel, gifts and accessories. He holds an MBA from Capital University, Columbus, Ohio, and a B.S. in Finance and Management from the University of Oregon.

Scheid joins the board with significant expertise in finance, retail strategies, risk management, and investment services. He currently serves as chairman of Janus Capital Group, Inc., one of the largest investment management companies in the U.S. From April 2004 to December 2005, Scheid held the role of chairman and CEO at Janus.

Prior to his tenure at Janus, he held several executive positions at Charles Schwab & Co., including vice chairman of The Charles Schwab Corp. and president of Schwab’s retail group.

Scheid currently serves on the board of directors of PMI Group, Inc., an international provider of credit enhancement products. He holds a B.S. from Michigan State University.

JCK