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Ex-Cadbury CEO named director at Signet

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Jewellery retail group Signet has this week announced the appointment of ex-Cadbury CEO Todd Stitzer as an independent director.

Stitzer, who was the CEO of Cadbury until its acquisition by Kraft last year and is also a director of drinks group Diageo, will start his new role on January 9th 2012.

Welcoming Stitzer to the group, Sir Malcolm Williamson, non-executive Chairman of Signet, commented: “On behalf of the board, I welcome Todd as an independent director of Signet.

“I am confident that his broad experience will enable him to make a significant contribution.”

It was also announced this week that Sir Malcolm will not stand for re-election to the Signet board at next year’s shareholders AGM, where Stitzer will be officially elected to the board.

In a statement, the Chair of Signet’s Nomination and Corporate Governance Committee Russell Walls thanked him for his “excellent stewardship” of the business in recent years.

“His outstanding leadership, experience and judgment over his tenure as Chairman have assisted the group achieve the position it holds today,” he added.

Last month, Signet reported that group like-for-like sales increased by 10.6 per cent year-on-year in the 13 weeks ending October 29th 2011.

Sales remain flat at its UK business, however, with H Samuel and Ernest Jones operating in a difficult consumer environment, which has contributed to the group’s British arm operating at a loss for the first three quarters of the year.

Published on Friday 09 December by Editorial Assistant

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