Signet Jewelers CEO to retire; successor named
The chief executive of the parent company of Zales, Kay Jewelers, Jared and other brands plans to step down next month.
After 12 years at the jewelry giant, Virginia "Gina" C. Drosos is planning to retire as CEO and as a member of the board of directors, effective Nov. 4, 2024. Following her retirement, Drosos will continue as an advisor through the end of the Signet’s fiscal year to support a “smooth transition.”
Signet’s board has appointed J.K. Symancyk to succeed Drosos as CEO effective Nov. 4, and he will also join the board at that time. The news comes the day after Symancyk stepped down from his CEO role at PetSmart, a position he has held since 2018.
"On behalf of the board, I would like to thank Gina for her tremendous leadership and many contributions to Signet throughout her tenure as CEO and service as a director," said Helen McCluskey, chair of Signet's board of directors. "As CEO, Gina led Signet in its transformation journey with strategic clarity, disciplined decision-making and a purpose-driven mindset. Under her leadership, in the last five years the company expanded its market share by nearly 50% and significantly grew its digital presence. During Gina's tenure as CEO, she and the team increased e-commerce sales fourfold and transformed the company's financial results.”
Symancyk was appointed CEO of PetSmart in 2018. He succeeded Michael Massey, who abruptly resigned from the company in August 2017. Prior to PetSmart, Symancyk was with Academy Sports + Outdoors, where he had served as president and CEO since 2015. From 2006 to 2015, Symancyk held roles of increasing responsibility at Meijer, including group VP, executive VP and chief marketing officer, and chief operating officer and president.
"I am honored to join Signet as its next CEO and continue advancing the strategy that Gina and the team have established,” said Symancyk. “Signet's position as a leading global jewelry retailer with a diverse portfolio of renowned brands provides a competitively advantaged foundation for continued growth. I am passionate about serving customers and I recognize the emotional connection of Signet's customers when they are making a jewelry purchase. One of the key attributes that drew me to Signet is its purpose-driven and agile culture and focus on putting its team members and customers first.”
In addition to the impending CEO change, Signet also announced that it expanded responsibilities for Joan Hilson, chief financial, strategy and services officer. In her new role as chief financial and operating officer, Hilson will oversee supply chain, Blue Nile and James Allen. along with her current oversight of Rocksbox, finance, strategy, real estate and the services business. Hilson has served as chief financial officer of Signet since 2019 and has been instrumental in the company's transformation.
“We are also excited to recognize Joan Hilson's contributions, particularly in creating a strong financial foundation and growing services portfolio,” added McCluskey. “We look forward to her making an even larger impact in her expanded role as chief financial and operating officer."
Signet operates approximately 2,700 stores primarily under the name brands of Kay Jewelers, Zales, Jared, Banter by Piercing Pagoda, Diamonds Direct, Blue Nile, James Allen, Rocksbox, Peoples Jewellers, H. Samuel and Ernest Jones.
