Signet Jewelers CEO Virginia Drosos will retire in November, and the leadership transition will welcome another well-known retail CEO to the company’s executive team.

As of Nov. 4, Drosos will move out of the CEO chair at Signet and stay on as an advisor and member of its board as outgoing PetSmart CEO J.K. Symancyk arrives to take over the chief executive role.

Signet Jewelers Ltd. is ranked No. 55 in Digital Commerce 360’s Top 1000 Database. The Top 1000 Database ranks North America’s largest online retailers by their annual web sales. It is also the highest-ranked retailer in the database’s Jewelry category. Digital Commerce 360 projects that Signet’s online sales in 2024 will reach $1.66 billion.

Signet Jewelers web sales by year

Virginia Drosos retires as Signet Jewelers CEO

Virginia Drosos, outgoing CEO at Signet Jewelers | Image credit: Signet Jewelers

“It has been a true honor to serve Signet for the past twelve years as a member of the Board and the past seven as CEO,” Drosos said in a statement released Oct. 1. “With the ongoing successful execution of our Inspiring Brilliance strategy and the path established for our next phase of growth, now is the right time for this planned leadership transition.”

Signet’s board praised Drosos for her successes at the company, which operates Kay Jewelers, Zales, Jared and Banter by Piercing Pagoda.

“On behalf of the Board, I would like to thank Gina for her tremendous leadership and many contributions to Signet throughout her tenure as CEO and service as a director,” said Helen McCluskey, the chair of Signet’s board of directors. “As CEO, Gina led Signet in its transformation journey with strategic clarity, disciplined decision-making and a purpose-driven mindset.”

In addition to crediting Drosos for improving company culture at Signet, McClusky also cited quantifiable business improvements that occurred during her time there.

“Under her leadership, in the last five years the Company expanded its market share by nearly 50% and significantly grew its digital presence,” McClusky said. “During Gina’s tenure as CEO, she and the team increased e-commerce sales fourfold and transformed the Company’s financial results, reducing gross debt outstanding by over 90%, nearly doubling liquidity, and over the last four years expanding adjusted operating margin more than 70% — all helping to drive Signet’s Total Shareholder Return near the top of its retail peer group for the past one, three, and five years.”

J.K. Symancyk, Signet’s new CEO

Symancyk, whose departure from PetSmart was announced a day earlier on Sept. 30, will also join Signet’s board. His background includes more than three decades of work in the retail industry, notably in CEO roles at PetSmart and Academy Sports + Outdoors. He also held leadership positions at Meijer, Walmart and Sam’s Club, as well as director seats at Chewy and GameStop.

“We are excited to welcome J.K. as the Company’s next CEO,” McCluskey said. “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.”

As Symancyk takes over CEO duties, Signet will also welcome its chief financial, strategy and services officer, Joan Hilson, into a larger role as chief financial and operating officer.

“I am honored to join Signet as its next CEO and continue advancing the strategy that Gina and the team have established,” he said in Signet’s announcement. “Signet’s position as a leading global jewelry retailer with a diverse portfolio of renowned brands provides a competitively advantaged foundation for continued growth.”

Do you rank in our databases? 

Submit your data and we’ll see where you fit in our next ranking update.

Sign up

Stay on top of the latest developments in the online retail industry. Sign up for a complimentary subscription to Digital Commerce 360 Retail News. Follow us on LinkedIn, X (formerly Twitter), Facebook and YouTube. Be the first to know when Digital Commerce 360 publishes news content.