Zale CEO Resigns

There has been a major changing of the guard at Zale Corp.

The company announced today that Neal Goldberg, CEO; William Acevedo, chief stores officer; and Mary Kwan, chief merchandising officer; have left Zale effective immediately. Theo Killion, its current President, was appointed to the additional role of Interim Chief Executive Officer. 

Killion joined Zale Corporation in January 2008 as executive vice president and was appointed president in August 2008. Previously, he held senior management positions at Tommy Hilfiger, Limited Brands, Macy’s East and the Home Shopping Network. 

In addition, Zale also announced that Gil Hollander, executive vice president and chief sourcing and supply chain officer, has assumed the additional role of chief merchandising officer. This change will bring all aspects of diamond sourcing and merchandising under his oversight. Hollander has over 35 years of experience in the jewelry industry, joined Zale in September 2000 with the acquisition of Piercing Pagoda and has served in various senior management positions with the Company. 

"Our board is determined to do all in its power to put in place effective leadership to help return the Company to profitability. At the same time, these management changes will help facilitate renewed focus on Zale’s core diamond business. We are fortunate to have executives with Theo Killion’s and Gil Hollander’s experience to assume greater leadership responsibilities as we refocus on our core strengths," said John B. Lowe, Jr., Chairman of Zale Corporation.

For more on this, see the JCK blog Cutting Remarks.

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