Signet Jewelers CEO to Retire in November

The Company also today announced that it has 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 and 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.

“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, reducing gross debt outstanding by over 90%, nearly doubling liquidity, and over the last four years expanding adjusted operating margin more than 70%1 – all helping to drive Signet’s Total Shareholder Return near the top of its retail peer group for the past one, three, and five years. Further, Gina has advanced the Company’s culture, with recognitions by Great Place to Work and Fortune’s Best Workplaces in Retail. We wish Gina all the best in her well-deserved retirement.”

“It has been a true honor to serve Signet for the past twelve years as a member of the Board and the past seven as CEO. With the ongoing successful execution of our Inspiring Brilliance strategy and the path established for our next phase of growth, now is the right time for this planned leadership transition,” said Drosos. “I am proud of and thankful for our team and partners. Together, we have delivered strong results and transformed Signet into a purpose-inspired and modern jewelry industry leader – creating a truly connected commerce shopping experience, a strong financial platform, and a diverse, inclusive and winning culture. The Company is poised to deliver a brilliant future with long-term, sustainable growth. I look forward to working with J.K., the Signet team, and the Board to ensure a smooth transition.”

McCluskey continued, “The leadership transition announced today is the result of a thoughtful, planned succession process by Gina and our Board. We are excited to welcome J.K. as the Company’s next CEO. He is a strong leader with more than three decades of experience across the retail industry and proven expertise in driving strategic growth, focusing on the customer, and developing and sustaining high performing leadership teams that deliver results. J.K. has overseen the expansion of large-scale businesses with multi-branded portfolios as well as services businesses, and brings important merchandising and operational skills to the role. We are confident he is the ideal CEO to build on the team’s progress in establishing Signet as the growth and innovation leader of the jewelry industry. We are also excited to recognize Joan Hilson’s contributions, particularly in creating a strong financial foundation and growing services portfolio. We look forward to her making an even larger impact in her expanded role as Chief Financial and Operating Officer.”

Symancyk said, “I am honored to join Signet as its next CEO and continue advancing the strategy that Gina and the team have established. 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. I am focused on working with Gina and the executive team, along with the Board, through the transition and look forward to capturing the opportunities ahead.”