Signet Jewelers Limited (NYSE:SIG) (the “company”) today
announced the appointment of Joan M. Hilson as Chief Financial
Officer (CFO). The company also announced organizational changes to
strengthen its leadership structure in support of its Path to
Brilliance transformation plan.
Chief Financial Officer
Appointment
Hilson will be appointed CFO effective April 4, 2019, succeeding
current CFO Michele Santana, who will continue to serve in the role
through that date. As previously disclosed, Santana will remain
with the company through the end of April 2019 to ensure a smooth
transition. Hilson will be responsible for leading the company’s
finance, accounting, investor relations, tax and treasury teams and
will be based in Akron, Ohio.
Hilson brings over 30 years of experience in retail corporate
finance leadership positions, with extensive experience in business
planning, merchandise planning, inventory management, and cost
optimization. She has a strong track record of building high
performing finance teams and developing leaders. She was most
recently CFO of David’s Bridal from 2014 to March 2019. Prior to
that, Hilson was the CFO of American Eagle Outfitters and held
several roles within Limited Brands, including CFO of the
Victoria’s Secret stores division. Earlier in her career, Hilson
also worked at Sterling Jewelers Inc. and Coopers &
Lybrand.
“I am excited to have Joan join Signet at such an important time
for our business. She is an accomplished retail executive with
extensive financial and operational experience. I am confident that
Signet will benefit from her transformational experiences and
perspective, as we accelerate our Path to Brilliance transformation
efforts,” said Virginia C. Drosos, Chief Executive Officer.
Leadership Appointments To Drive Growth In
Core Mall-based Stores
Based on learnings from year one of the Path to Brilliance
transformation plan, Signet is bringing the leadership of its Kay,
Zales and Peoples banners under one combined Mall Leadership
Team.
“As we pursue our vision to be a share-gaining OmniChannel
jewelry category leader, we are taking bold steps to reorganize our
leadership team,” Drosos said. “We believe these changes will
enable us to better capture banner growth opportunities,
relentlessly improve product assortment, expand our precision
journey-based targeting of customers, and create a stronger
OmniChannel shopping experience in-store and online. This is
enabled by driving strong operating efficiencies and better
utilizing our scale.”
Jamie L. Singleton, currently Executive Vice President (EVP)
Zales and Peoples, is promoted to President Kay, Zales, and
Peoples, with full P&L and operational responsibilities,
including merchandising, marketing, and eCommerce for these core
mall-based store banners. Singleton has been with Signet for seven
years, including general manager roles for Zales and Piercing
Pagoda. Prior to Signet, she served in SVP roles at CPI Corp.,
David’s Bridal and After Hours Formalwear. She spent her early
career in merchandising, design and product development roles at
May Company, Saks, Inc., and Federated Department Stores.
Bill Luth, previously EVP Kay, has been named EVP, Global Store
Operations, with global responsibility for store operations. Luth
is a 30-year Signet veteran with extensive experience in store
operations. Kecia Caffie is promoted to Senior Vice President,
Piercing Pagoda. Singleton, Luth and Caffie will continue to report
to Seb Hobbs, President and Chief Customer Officer.
“Jamie’s and Bill’s new roles, along with other leadership
realignments following recent appointments of William R. Brace,
Chief Marketing Officer and EVP Jared, and Toni Zehrer, Chief
Merchandising Officer, add significant capability to our core
merchandising, marketing, and store operations organizations,” said
Drosos. “This is key to accelerating our Customer First strategy in
year two of our Path to Brilliance transformation.”
The above changes will have no impact on Signet’s external
financial reporting structure. The company will continue to report
segments as North America and International.
About Signet and Safe Harbor
Statement:
Signet Jewelers Limited is the world's largest retailer of
diamond jewelry. Signet operates nearly 3,500 stores primarily
under the name brands of Kay Jewelers, Zales, Jared The Galleria Of
Jewelry, H.Samuel, Ernest Jones, Peoples, Piercing Pagoda, and
JamesAllen.com. Further information on Signet is available at
www.signetjewelers.com. See also www.kay.com, www.zales.com,
www.jared.com, www.hsamuel.co.uk, www.ernestjones.co.uk,
www.peoplesjewellers.com, www.pagoda.com, and www.jamesallen.com.
This release contains statements which are forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. These statements, based upon management’s
beliefs and expectations as well as on assumptions made by and data
currently available to management, appear in a number of places
throughout this document and include statements regarding, among
other things, Signet’s results of operation, financial condition,
liquidity, prospects, growth, strategies and the industry in which
Signet operates. The use of the words “expects,” “intends,”
“anticipates,” “estimates,” “predicts,” “believes,” “should,”
“potential,” “may,” “forecast,” “objective,” “plan,” or “target,”
and other similar expressions are intended to identify
forward-looking statements. These forward-looking statements are
not guarantees of future performance and are subject to a number of
risks and uncertainties, including, but not limited to, our ability
to implement Signet's transformation initiative, the effect of US
federal tax reform and adjustments relating to such impact on the
completion of our quarterly and year-end financial statements,
changes in interpretation or assumptions, and/or updated regulatory
guidance regarding the US federal tax reform, the benefits and
outsourcing of the credit portfolio sale including technology
disruptions, future financial results and operating results, the
impact of weather-related incidents on Signet’s business,
deterioration in the performance of individual businesses or of the
Company's market value relative to its book value, resulting in
impairments of fixed assets or intangible assets or other adverse
financial consequences, including tax consequences related thereto,
especially in view of the Company’s recent market valuation, and
our ability to successfully integrate Zale Corporation and R2Net’s
operations and to realize synergies from the Zale and R2Net
transactions, general economic conditions, potential regulatory
changes or other developments following the United Kingdom’s
announced intention to negotiate a formal exit from the European
Union, a decline in consumer spending, the merchandising, pricing
and inventory policies followed by Signet, the reputation of Signet
and its banners, the level of competition in the jewelry sector,
the cost and availability of diamonds, gold and other precious
metals, regulations relating to customer credit, seasonality of
Signet’s business, financial market risks, deterioration in
customers’ financial condition, exchange rate fluctuations, changes
in Signet’s credit rating, changes in consumer attitudes regarding
jewelry, management of social, ethical and environmental risks, the
development and maintenance of Signet’s OmniChannel retailing,
security breaches and other disruptions to Signet’s information
technology infrastructure and databases, inadequacy in and
disruptions to internal controls and systems, changes in
assumptions used in making accounting estimates relating to items
such as extended service plans and pensions, risks related to
Signet being a Bermuda corporation, the impact of the acquisition
of Zale Corporation on relationships, including with employees,
suppliers, customers and competitors, and an adverse decision in
legal or regulatory proceedings. For a discussion of these and
other risks and uncertainties which could cause actual results to
differ materially from those expressed in any forward-looking
statement, see the “Risk Factors” section of Signet’s Fiscal 2018
Annual Report on Form 10-K filed with the SEC on April 2, 2018 and
quarterly reports on Form 10-Q filed with the SEC. Signet
undertakes no obligation to update or revise any forward-looking
statements to reflect subsequent events or circumstances, except as
required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20190313005377/en/
Randi Abada SVP Corporate Finance Strategy & Investor
Relations+1 330 668 3489 randi.abada@signetjewelers.com
David Bouffard VP Corporate Affairs+1 330 668 5369
david.bouffard@signetjewelers.com
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