Signet Jewelers is reorganizing its internal structure, reminding some company veterans of the more siloed, store-banner structure that it had decades ago.
The new set-up is not fully siloed, but more of a matrix. According to an internal communication from president and chief customer officer Sebastian Hobbs obtained by JCK, the industry’s largest jeweler will now be aligned by store banners (e.g., Kay, Jared, Zales) and functional teams (marketing, merchandising, store operations).
“This type of structure is broadly employed in similar large-scale, multibrand retailers,” Hobbs said. “The Store Banner Teams will have a single point of accountability for banner profit and loss and will be focused on driving growth through the execution of their specific strategies, each distinct and informed by clear positioning and customer insight.”
CEO Gina Drosos further explained the change in an interview with JCK today.
As a result of the changes, Katy Jones, formerly executive vice president of store operations, has been named executive vice president and head of store operations; and Mark Censoprano, formerly executive vice president and chief marketing officer, has been named executive vice president and head of marketing. A head of merchandising will be named in the future.
As for store-banner leaders, Bill Luth, formerly executive vice president of logistics, repair, sourcing, and transformation leadership team, has been named executive general manager/executive vice president, Kay Jewelers; Jamie Singleton, formerly senior vice president/Dallas general merchandising manager, has been promoted to executive vice president and named executive general manager/executive vice president, Zales and Peoples Jewellers; and Kecia Caffie, general merchandise manager, has been named banner team leader of Piercing Pagoda.
Emma Hayward will continue to lead Signet’s United Kingdom business. A Jared executive general manager will be named soon, but will in the interim report to Hobbs.
The reorganization means the company will say goodbye to some longtime veterans. Ellen MacKenzie, divisional vice president, mall merchandising, announced her retirement in December. Eric McIntyre, vice president, IMPACT and Richard Mercer, director of merchandising, will be leaving Signet.