Signet announced that CEO Mark Light has retired due to “health reaons.” He will be succeeded by beauty and health veteran Virginia “Gina” C. Drosos, who has served as an independent director of the company’s board since 2012, effective August 1, 2017.
“Given the company’s positive direction and my need to address some health issues, the board and I agreed that it is a good time for a transition,” Light said in a statement.
Most recently, Drosos served as president & CEO of Assurex Health. Prior to that, she spent 25 years with The Procter & Gamble Company, most recently as a group president of global beauty care, a $6 billion-plus business unit with a portfolio of more than 20 brands.
Drosos’ appointment comes at a critical time for the company, which is challenged with declining revenue and a legal battle. Signet’s Sterling Jewelers subsidiary is fighting a lawsuit brought by thousands of women who worked for the company. As reported by…