J.K. Symancyk is stepping down from his role as President, CEO and board member at PetSmart and will succeed Virginia “Gina” Drosos as CEO of Signet Jewelers when she retires on Nov. 4, 2024. Symancyk will join the board at that time; Drosos will stay on as advisor through the end of the company’s fiscal year to support the transition. PetSmart’s current EVP and CFO Alan Schnaid will serve as interim President and CEO at that retailer until a successor for Symancyk is found.
“Alan has been instrumental in building our strategy and we’re confident in his ability to continue to carry it out as we search for a new CEO to lead PetSmart into the future,” said Raymond Svider, Chairman of the PetSmart board of directors in a statement.
Drosos led Signet Jewelers — which encompasses the retail banners Kay Jewelers, Zales, Jared, Banter by Piercing Pagoda, Blue Nile, James Allen and Rocksbox, among others — for 12 years. Under her leadership, ecommerce sales increased 4X, and the company’s financial performance was dramatically improved with a more than 90% reduction in gross debt outstanding. In the last five years the company also expanded its market share by nearly 50%.
As part of the leadership shuffle, Signet also has expanded the responsibilities for Joan Hilson, Chief Financial, Strategy and Services Officer. In her new role as Chief Financial and Operating Officer, Hilson will oversee supply chain, Blue Nile and James Allen, along with her current oversight of Rocksbox, finance, strategy real estate and the company’s services business. Hilson has served as CFO of Signet since 2019.
Advertisement
“We are excited to welcome J.K. as the company’s next CEO,” said Helen McCluskey, Chair of Signet’s board of directors in a statement. “He is a strong leader with more than three decades of experience across the retail industry and proven expertise in driving strategic growth, focusing on the customer, and developing and sustaining high-performing leadership teams that deliver results. J.K. has overseen the expansion of large-scale businesses with multi-branded portfolios as well as services businesses and brings important merchandising and operational skills to the role.”
“Signet’s position as a leading global jewelry retailer with a diverse portfolio of renowned brands provides a competitively advantaged foundation for continued growth,” added Symancyk in a statement. “I am passionate about serving customers and I recognize the emotional connection of Signet’s customers when they are making a jewelry purchase. One of the key attributes that drew me to Signet is its purpose-driven and agile culture and focus on putting its team members and customers first.”
