Zale elects former Signet CEO board chair
DALLAS — Zale Corporation, a specialty retailer of diamond and other jewelry products, has elected former Signet CEO Terry Burman as a director and as chairman of the board. John B. Lowe Jr., who has served as chairman for the past five years, will remain on the board.
“On behalf of the board of directors and the Zale management team, I am pleased to welcome Terry Burman to our board in the important leadership role of chairman,” said Theo Killion, CEO of Zale Corporation. “Terry’s track record and industry knowledge make him uniquely qualified to contribute to Zale as we execute our plans for long term growth and shareholder value. I’d also like to thank Jack Lowe for his stewardship as chairman as we stabilized the business and created the path to profitability.”
Burman served as CEO of Signet Jewelers Limited from 2000 to Jan. 2011. He joined Signet in 1995 as the chairman and CEO of Sterling Jewelers, a U.S. division of Signet. Before joining Signet, Burman held executive positions, including president and CEO, with Barry’s Jewelers, Inc., which now does business as Samuels Jewelers. Burman serves on the boards of Yankee Candle Company and Tuesday Morning Corporation. He also serves on St. Jude Children’s Research Hospital board of governors. With more than 30 years of experience, the jewelry industry veteran has received numerous awards, including the American Gem Society Lifetime Achievement Award in 2010. He is also the former chairman of Jewelers of America.
“I am delighted to assume the role of chairman of the board at Zale at such an important point in their turnaround program. I am looking forward to working with Zale’s management and board to refine the company’s strategy and priorities to drive profitable growth and create shareholder value,” said Burman.
Zales has just posted its results for the third quarter fiscal period ended April 30. The company saw same-store sales at its Zales and Zales Outlets stores increase by 3% compared to the same period last year. “We delivered strong results in March and April after a slow start to the quarter in February, which resulted in our tenth consecutive quarter of positive comps,” said Killion about the results.
Zale Corporation operates approximately 1,710 retail locations throughout the United States, Canada and Puerto Rico, as well as online. Its portfolio of brands includes Zales Jewelers, Zales Outlet, Gordon's Jewelers, Peoples Jewellers, Mappins Jewellers and Piercing Pagoda. Zale also operates various e-commerce sites.