Promotions and retirements at Sterling Jewelers

Sterling Jewelers Inc., Akron, Ohio, the second largest U.S. specialty retailer, announced the following promotions:

* Mark Light, to president and chief operating officer;
* William Montalto, Sr., to chief administrative officer;
* Ed Hrabak, to senior vice president/general merchandising officer;
* Terry Klein, to senior vice president of finance;
* George Murray, to senior vice president, marketing and advertising; and
* Steve Venezia, to senior vice president MIS and distribution.

The promotions were made due to the retirement of two influential Sterling executives: Harriet Schreiner, executive vice president of merchandising, and Dick Miller, executive vice president/chief financial officer.

Schreiner’s retirement becomes effective on June 30. At that time Ed Habrak will be promoted to replace her.

Terry Burman, Sterling chairman and CEO, said of Schreiner, “Under her leadership, our merchandising team has created the most productive inventory assortment in the industry. This is reflected in the superior quality, value, and style of our jewelry.”

Miller’s retirement will take effect April, 2003. Burman commented that Miller has been with Sterling for more than 20 years and has played a major in the growth of the company from a regional chain of less than 100 stores to the national chain of more than 1,000 stores that it is today. “He has played a key part in developing the management team and strategies that make Sterling a benchmark within the industry.”

Burman added, “I am confident that our realigned management team is in positioned to take Sterling to the next stage of growth and development.”

Sterling Jewelers Inc. operates 1,038 specialty retail stores trading as Kay Jewelers, Jared – The Galleria of Jewelry, and under a number of regional names.

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