Signet and Zale Now Officially One

It looked dicey for a while, but Signet Jewelers’ acquisition of Zale Corp. is now a done deal. The takeover was completed May 29, after Zale shareholders okayed it in a close vote at the Dallas headquarters, with 53 percent of investors deciding in favor. The approval means Signet operates 3,600 stores in the United States, United Kingdom, and Canada, representing $6.2 billion in annual revenue. A month later, Zale CEO Theo Killion, who had been expected to stay on, announced his resignation. He will be replaced by ex–Signet marketing VP George Murray, who will become president of the Zale division, which includes Zales, Gordon’s, Piercing Pagoda, and Zale Canada. He will work out of Zale’s Dallas headquarters. Other Zale execs resigning: chief administrative officer Matt Appel; chief marketing officer Richard Lennox; chief merchandising and sourcing officer Gil Holland

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