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Wednesday, September 29, 2010

Signet Names Michael Barnes New CEO

The world’s largest specialty retail jeweler will soon have new leadership.

Signet Jewelers Ltd. said Wednesday it has appointed Michael Barnes as chief executive officer beginning Jan. 30, 2011. Barnes, formally with Fossil Inc., will join Signet on December 1 as chief executive officer designate and will be based in Akron, Ohio. He succeeds Terry Burman who will retire Jan. 29, 2011.

Barnes had been president, chief operating officer and a director of Fossil. He has been with the global design, marketing and distribution company for 25 years, serving in several key management positions. He started with the Richardson, Texas-based company in its early days and was one of its initial employees. He was part of the management team that took Fossil public in 1993. Barnes announced his resignation from Fossil Wednesday.

“We are delighted to have recruited such a strong candidate as Mike to be Signet’s CEO,” said Sir Malcolm Williamson, Signet chairman. “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.”

Signet, based in Hamilton, Bermuda, operates 1,893 stores, including1,345 stores in the U.S., where it trades as Kay Jewelers, Jared The Galleria Of Jewelry, and under a number of regional names. Signet also operates 548 stores in the U.K. division, where it trades as H.Samuel, Ernest Jones and Leslie Davis.

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