Zale CEO Raff Resigns

February 13, 2001

Zale CEO Raff Resigns

Zale Corp. yesterday announced Beryl Raff has resigned as chairman of the board and CEO to devote more time to her family and her own personal interests. Robert J. DiNicola will return as chairman and CEO on Feb. 21. He previously held the position from April 1994 to Sept. 1999.

"We would like to thank Beryl for her contributions to Zale's success over the past six years," says Richard Marcus, a member of the board of directors since 1993 and chairman of the compensation committee. "All of us at Zale wish her much success in her future endeavors." Marcus will serve as interim chairman of the board until Feb. 21. The company has rescheduled the release of its second fiscal quarter earnings until March 7.

In other company news, Philip N. Diehl, who was hired last March to expand Zale's Internet business, left his job as head of the Internet sales division last week. The company has not commented on his departure.

- by Julia M. Duncan