Signet promotes chief operating officer Mark Light to chief executive as Mike Barnes stands down

Light, who has been with Signet for over 30 years, will succeed Barnes on October 31 at the jeweller which operates H Samuel and Ernest Jones in the UK.

Signet chairman Todd Stitzer said: “Mark is an experienced, strategic leader who has been deeply involved in the company’s Vision 2020 Strategy, the Zale acquisition and its ongoing integration. 

“In addition he has a meticulous approach to operational details, and has been the main architect of our sterling division’s consistently profitable growth and has played a key role in defining and executing Signet’s growth strategy.”

Light was an advisor to Signet’s UK managing director since 2013 and become responsible for the business in mid-2014.

Stitzer said that Barnes was leaving to relocate closer to his family.

Light said: “I’ve enjoyed working closely with Mike Barnes to develop and implement successful strategies to accelerate the growth of Signet organically and through acquisitions. I am extremely pleased with the progress we are making integrating the Zale division, and I remain confident that we will achieve our 3-year synergy expectations of $150 million to $175 million. 

“More broadly, I’m honoured to take the helm of this enterprise to move Signet forward as a leader in the retail jewellery industry, bringing ever greater innovation in products, store concepts, customer service and marketing as we continue to grow our market share. Our strategic planning, operational excellence, and superior collaboration executed by our industry-leading teams, will continue to drive our success into the future.”