Zale Corporation Announces Leadership Change with Mary L. Forte's Resignation

Zale Corporation, a leading specialty retailer of fine jewelry, has announced the resignation of President and Chief Executive Officer Mary L. Forte, effective immediately. The Board of Directors has appointed Betsy Burton, a seasoned turnaround specialist, as Interim Chief Executive Officer to lead the transition process. Burton, a member of the Zale Board since 2003, has previously served as CEO of several companies and has a reputation for revitalizing struggling businesses.

Key Takeaways:

• Mary L. Forte, President and CEO of Zale Corporation, has resigned after 11 years with the company.
• Betsy Burton, a former CEO of Supercuts, Inc. and turnaround specialist, has been appointed as Interim Chief Executive Officer.
• Burton has served on the Zale Board since 2003 and sits on several other public company boards, including Staples, Aeropostale, and Rent-A-Center.
• The Board of Directors has started an internal and external search for a new CEO to lead the company's future growth.
• Zale Corporation operates approximately 2,400 retail locations throughout the United States, Canada, and Puerto Rico, as well as online.
• Zale Corporation's brands include Zales Jewelers, Zales Outlet, Gordon's Jewelers, Bailey Banks & Biddle Fine Jewelers, Peoples Jewellers, Mappins Jewellers, and Piercing Pagoda.

Statistics:

• Zale Corporation operates approximately 2,400 retail locations in the United States, Canada, and Puerto Rico.
• Mary L. Forte served as President and CEO of Zale Corporation for 11 years.
• Betsy Burton has served on the Zale Board since 2003.
• Zale Corporation's brands include seven separate brands operating a total of 2,400 locations.
• The Zale stock ticker symbol is NYSE:ZLC.

Sources:

• "Zale Corporation Announces Leadership Change with Mary L. Forte's Resignation," Zale Corporation press release, no date available.