Signet Jewelers announced that Michael Barnes has resigned from his position as Chief Executive Officer and from Signet's board of directors, effective October 31, 2014, and Mark Light, currently Signet's President and Chief Operating Officer, will succeed both to the post of CEO as well as to the position on the Board of Directors.

"We are delighted to announce Mark's promotion to Chief Executive Officer of Signet,” said Chairman of the company, Todd Stitzer.  “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.”

"I've enjoyed working closely with Mike Barnes to develop and implement successful strategies to accelerate the growth of Signet organically and through acquisitions," said Mark Light. "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.”

Signet is a leading retailer with a footprint in the US, UK and Canada.