DiNicola Steps Down As Zale CEO

September 8, 1999

DiNicola Steps Down As Zale CEO

As part of its plans for long-term growth, Zale Corp. today announced Robert DiNicola will step down as the company's CEO. He will remain chairman of the board, while President and COO Beryl Raff will take over as CEO.

"I look forward to devoting more of my energies to the many strategic opportunities available to the corporation," said DiNicola in a release. "The pace of change has never been more dramatic. With our operating fundamentals securely in place and with our strategic objectives clearly set, I will now be able to spend much more time evaluating those global issues affecting our future."

DiNicola said the corporate direction and daily operations of Zale, based in Irving, TX, will remain on track. The company currently operates 1,330 retail stores and an e-commerce Web site, www.zales.com.

- by Stacey King