Goldsmiths chief suspended after boardroom row

The chairman and chief executive of Goldsmiths has been suspended, pending an investigation, from the jewellery retailer after a boardroom fall-out.

It is understood that Jurek Piasecki, who has ran Goldsmiths for 24 years, has been absent from the business for about three weeks and the board has hired corporate advisory firm Kroll to investigate the jeweller’s finances.

The nature of Piasecki’s disagreement with the other board members is not clear.

Goldsmiths finance director Steve Sargent and Justin Stead, who was promoted to chief executive designate earlier this year, are running the jeweller.

Piasecki owns 15 per cent of Goldsmiths. He sold a 36 per cent stake to Icelandic investment firm Baugur in May 2004. It is believed that relations between the chairman and his major shareholder had become difficult in recent months.

A Baugur spokesman declined to comment on Piasecki, but said: “The business is trading well and is on track for a great Christmas trading period. Baugur remains fully supportive and behind the business.”

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