Resignations hit Signet
Friday 24 February 1995
The share price, which has declined steadily since peaking at 45.5p last April, dipped a further 1.75p to a new year's low of 16.75p. When the company was known as Ratners, and headed by Gerald Ratner, the shares traded as high as 300p.
Mr O'Brien will leave at the end of next month to become chief operating office at the fast-expanding Salisburys Stores, the company bought out of Signet for £3.8m last August and headed by Stephen Hinchliffe. Since buying Salisburys, Mr Hinchliffe has been on a spending spree, picking up Sock Shop, Torq, and Red and Dead.
Walker Boyd, finance director of Signet's UK Jewellery business, who has been with the company for two years, has been promoted to the board and will succeed Mr O'Brien. Before joining Signet , he was finance director of Grattan, the mail order company, where he worked for three years.There is no heir-apparent to Mr Light. His responsibilities in the US are being assumed temporarily by Laurence Cooklin, chief executive of UK Jewellery.
Despite a return to profitability and prospects of a sustained recovery, Signet remains saddled with debt problems.
- 1 Man on naked bike ride gets ejected after becoming aroused
- 3 Ann Summers survey reveals the UK's favourite sex position
- 4 Jaden Smith wears gender fluid dress to high school prom with Hunger Games actress
- 5 How much sex should I be having?
Ed Miliband returns to the backbenches but it's all a bit awkward as he tries to avoid eye-contact with fellow Labour MPs
Man on naked bike ride gets ejected after becoming aroused
Charles Kennedy 1959-2015: A gifted, compassionate politician whose career was cut short by the 'demon drink' - latest news
Ayyan Ali: Pakistan's top model now appears in the courtroom rather than on the catwalk
Isis tortures 14-year-old Syrian boy and films it in graphic video for 'propaganda purposes'
Migrants in Kos: Photos show real tragedy after Brits abroad complain of 'awkward' holidays
Thousands of teenage girls enduring debilitating illnesses after routine school cancer vaccination
British tourists complain that impoverished boat migrants are making holidays 'awkward' in Kos
Michael Gove determined to scrap the Human Rights Act – even if Scotland retains it
Threat to scrap Human Rights Act could see UK follow Nazi example, warns UN official
Why this year's general election was the most unfair in Britain's history
iJobs Money & Business
£30000 - £35000 per annum: Recruitment Genius: The UK's fastest growing, multi...
£70000 - £90000 per annum: Recruitment Genius: A Financial Reporting Manager i...
£23000 - £25000 per annum: Recruitment Genius: They win lots of awards for the...
£13500 - £20000 per annum: Recruitment Genius: This nationwide enforcement com...