DiNicola Retires as Zale Chairman

Robert J. DiNicola, chairman of Zale Corp. since 1993 and the architect of its return to industry leadership and profitability after bankruptcy, announced his retirement on Aug. 30. That same day, Zale announced $1.79 billion in net sales and a 38% gain in net earnings for fiscal 2000, its best year ever. DiNicola remains on Zale’s board of directors.

Beryl Raff, part of DiNicola’s original management team and formerly president and chief executive officer, was appointed chairman and CEO by the board. Alan Shor, formerly executive vice president and chief operating officer, was named president and COO.