Jewelry Industry & People: December 2013–January 2014

COMINGS AND GOINGS

>>?Wal-Mart has named company veteran Doug McMillon its new president and CEO, effective Feb. 1. He succeeds Mike Duke.

>> Tiffany & Co. chief financial officer Patrick ­McGuiness has resigned. Chief operating officer James ­Fernandez will serve as interim CFO until the company hires a replacement.

>>?Michael Rae, CEO of the Responsible Jewellery Council, stepped down to pursue opportunities closer to his Melbourne, Australia, home. Until a successor is named, Catherine Sproule is serving as interim CEO.

>>?Stuller CEO and president Jay Johnson retires Dec. 27. His successor is chief merchandising, marketing, and sales officer Danny Clark.

Karen Goracke

>>?Borsheims director of merchandising Karen Goracke has been named president and CEO of the Omaha, Neb., ­jeweler, ­effective Jan. 1. She replaces Susan Jacques, who will assume the role of president and CEO of the GIA.

Shmuel Schnitzer

>>?On Oct. 9, Israel Diamond Exchange members elected Shmuel Schnitzer president of the Ramat Gan–based bourse. He replaces Yair Sahar, who completed a two-year term. Schnitzer also held the post in 1998–2004.

>>?Longtime Bloomingdale’s CEO Michael Gould is retiring and will be succeeded by current president and chief operating officer Tony Spring in February.

Ira Melnitsky

>>?Tourneau has named luxury retail veteran Ira Melnitsky its new CEO. He had been president of the home and better handbag divisions of LF USA.

>>?Danish jewelry brand Trollbeads appointed Brenda Berger CEO of Trollbeads U.S. She will report to executives in the global headquarters in Copenhagen but will be based in Princeton, N.J.

>>?Adam Bernhard, founder and CEO of HauteLook, the flash site owned by Nordstrom, is stepping down as chief executive. Bernhard will not be replaced and will stay on in an advisory role. Terry Boyle will remain as president of HauteLook, reporting to Jamie Nordstrom, president of Nordstrom Direct.

>>?Frederick Goldman has appointed Adam Gurian its executive vice president of global sales and merchandising. Gurian joins the company after a 17-year tenure at Timex Group, where he served most recently as president of the Timex business unit.

>>?Evan Yurman has been named chief design director of David ­Yurman. The son of founders David and Sybil Yurman, he previously was design director for the men’s, timepiece, wedding, and high jewelry collections.

>>?Designer Kendra Bridelle has joined Swiss jewelry house Gilbert Albert as director of sales and marketing. Bridelle also will launch an eponymous jewelry line, which will be available in Gilbert Albert stores as well as department stores, boutiques, and online stores. Gilbert Albert boutiques also will stock Bridelle’s LusciousS line.

Lauren Mandel, the new CEO of Sorrelli

>>?Kutztown, Pa.–based jewelry company Sorrelli has appointed Lauren Mandel its new CEO. Before joining Sorrelli jewelry, Mandel founded the eyewear business twoeyes and served as president of Victoria & Co.

>>?E-tailer Gemvara has hired jewelry industry veteran Susan Chandler as its new chief merchandising officer. Chandler was previously senior vice president, general merchandise manager at David Yurman.

>>?The GIA has appointed Thomas M. Moses, executive vice president and chief laboratory and research officer for GIA, and Elliot Tannenbaum, senior principal of Leo Schachter Diamond Group, to its board of governors.

>>?Christophe Claret, the independent watchmaker known for manufacturing highly complicated movements, has named Wolfgang Sickenberg its new director of operations. He replaces Stefan Feltgen.

CORPORATE

>>?Tiffany & Co. and Swatch have formally terminated their agreement to make Tiffany-branded watches, the retailer announced in an 8-K filed Oct. 10 with the Securities and Exchange Commission. The agreement currently is being litigated in a confidential arbitration in the Netherlands. 

>>?Overnight Mountings has purchased the assets of Satco Casting at an auction. Satco is a caster of precious metals for the jewelry industry. The purchase includes the Plaza Bracelet Co., which wholesales tennis-style bracelets. 

>>?Kastle Systems has acquired Mutual Central Alarm Services and Stat-Land Security Systems from ADT Corp.

>>?Signet Jewelers acquired the Excelco diamond polishing factory in Gaborone, Botswana, from H&A Cutting Works, the latest step in its rough diamond sourcing initiative.

OPENING

>>?Pandora opened its 1,000th concept store Oct. 23 at the Beaugrenelle Paris, the city’s second-largest mall.

EVENTS

>>?The American Gem Society has announced the keynote and featured speaker lineup for its 2014 ­Conclave, which will be held at the Hotel Del ­Coronado in San Diego, April 23–26. Among the speakers: business adviser and author Peter Sheahan; Erik Wahl, artist and author of Unthink: Rediscover Your Creative Genius; and sales guru Bryan Dodge. JCK senior ­editor Rob Bates will return as emcee. 

FINANCIAL

>>?Blue Nile announced that net sales for the third quarter rose 10.1 percent to $98.9 million. Net income was $2.9 million, up 70 percent from the prior year.