Signet Jewelers Gets New CEO

Signet Jewelers has appointed Michael (“Mike”) Barnes as
chief executive officer, effective January 30, 2011.

Barnes will join Signet on December 1 as  CEO-designate. He succeeds Terry
Burman, who retires January 29, 2011.

Signet owns Sterling Jewelers, the largest specialty jewelry retailer in the U.S., as well as two jewelry chains in the United Kingdom. 

Barnes previously was president and COO of Fossil, a global
design, marketing and distribution company that specializes in consumer fashion
accessories, including watches, jewelry, handbags, small leather goods, belts,
sunglasses and clothing.

He started with Fossil in its early days and was one of its
initial employees, becoming one of the management team that took it
public.  In his 25 years with the
company, his responsibilities have ranged from overseeing Fossil’s
state-of-the-art international sourcing and supply chain operations to leading
business development and managing the relationships with many of Fossil’s
current retail and licensing/brand partners.  He also helped company diversify into other businesses and
categories outside of its wholesale branded and licensed watches.

 “Signet has
established itself as a leading retailer in both the US and the UK, with
significant competitive advantages,” Barnes said. “It has a great culture of
excellence in execution and continuous improvement, and has had considerable
success in developing differentiated merchandise ranges. I am looking forward
to working with everyone at Signet.”

JCK News Director