Signet Jewelers Appoints Michael Barnes as CEO
Bermuda-headquartered Signet Jewelers Limited today (Sept 29) announced that it has appointed Michael Barnes as CEO with effect from January 30, 2011. He will join Signet on December 1, 2010 as Chief Executive Officer Designate and will be based in Akron, Ohio. He succeeds Terry Burman who will retire, as previously announced, on January 29, 2011.
Signet is the world’s largest specialty retail jeweler and operates over 1,800 stores including 1,345 stores in the US, where it trades as “Kay Jewelers,” “Jared The Galleria Of Jewelry” and under a number of regional names. Signet also operates over 500 stores in the UK division, where it trades as “H.Samuel,” “Ernest Jones” and “Leslie Davis.”
Mr. Barnes has been with Fossil, Inc. for over twenty-five years most recently serving as President, COO and a Director. He started with Fossil in its early days and was one of its initial employees. He was part of the management team that took Fossil public in 1993 and contributed to the continuing financial success of the business. As a result of his early involvement with Fossil, broad retail skill set and the company’s high growth, he has developed diverse functional expertise. He has had substantial leadership experience, with responsibilities ranging from overseeing Fossil’s state-of-the-art international sourcing and supply chain operations to leading business development and managing the relationships with many of Fossil’s current retail and licensing/brand partners. In addition, he has helped the company diversify into other businesses and categories outside of its wholesale branded and licensed watches.
Sir Malcolm Williamson, Chairman, commented: “We are delighted to have recruited such a strong candidate as Mike to be Signet’s CEO. Mike is a seasoned and accomplished manager who with his strategic and attentive outlook to operational details brings valuable experience to Signet. He will be an able successor to Terry Burman who has led Signet as CEO for the last ten years and who leaves a strong legacy.”
Mike Barnes commented: “Signet has established itself as a leading retailer in both the US and the UK, with significant competitive advantages. It has a great culture of excellence in execution and continuous improvement, and has had considerable success in developing differentiated merchandise ranges. I am looking forward to working with everyone at Signet.”
