|The Board of Directors of diamond jewelry retailer Signet Jewelers Limited (Signet) has appointed a new Chief Executive Officer to the company. The new CEO, Virginia "Gina" C. Drosos, takes over the position from Mark Light, who will be retiring at the end of this month for health reasons.
Drossos has served as an independent director on Signet's Board since 2012, and has over 29 years of executive leadership experience in the beauty and consumer goods industries, previously serving as President & CEO of Assurex Health and as a Group President of Global Beauty Care at The Procter & Gamble Company.
Commenting on his retirement from Signet, Mark Light remarked: "I'm very proud of all that Signet has been able to accomplish over the course of my career and it has been a privilege to work with such outstanding colleagues over these many years. We successfully developed major product brand partnerships such as Open Hearts by Jane Seymour® and Neil Lane Bridal®, made significant progress on our Customer First OmniChannel strategy, successfully acquired and integrated Zale and significantly expanded our penetration of the outlet channel. I am especially proud of bringing our Team Members together as One Signet. Given the Company's positive direction and my need to address some health issues, the Board and I agreed that it is a good time for a transition."
Signet's Chairman Todd Stitzer thanked Mark Light on behalf of the Board for his years of dedicated service and the many contributions he made to the company, noting that Light had been instrumental to the company's growth and success.
Stitzer also welcomed the incoming CEO: "I want to welcome Gina as Signet's new CEO. She is a visionary and transformational leader with a proven track record of growing and scaling global businesses through winning strategies and innovation. Gina's experience brings a unique combination of demonstrated brand building, given her strong background in beauty, along with the creativity, flexibility and boldness of an entrepreneurial mindset. She also possesses a strong financial background, having managed multibillion dollar P&Ls through phases of high growth, while delivering cost reductions and operational efficiencies.
Continues Stitzer: "As a member of the Board since 2012, she is deeply familiar with Signet's strategic vision and has been pivotal in our efforts to realign our organizational structure to enable better execution of our OmniChannel strategy and strengthening our customer experience. The Board has full confidence in Gina's ability to drive Signet forward in its next phase of growth and value creation."
Commenting on her appointment as CEO, Drosos says, "I am honored to serve as the CEO of Signet and look forward to working with our strong management and Team Members to deliver our revised 2020 Vision, which is focused on bridal, digital and women's fashion.Continues Drosos: "Signet is well positioned to continue to drive its unprecedented leadership in diamond jewelry and expand its market share in growing categories, such as fashion jewelry. I am committed to successfully executing our strategic priorities as we continue to transform Signet to become a more innovative, digital-first and data-driven retailer focused on delivering an outstanding OmniChannel experience to customers."