Ex-Cadbury CEO named director at Signet

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.


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