Beleaguered discount diamond dealer Zale (ZLC) is off 19 cents, or 6%, at $3.04 this morning after falling as much as 9% pre-market followingthe company’s announcement last night that CEO Neal Goldberg has left the company, effective immediately. Zale is looking for another CEO but put Theo Killion, Zale’s president, in his place temporarily.
The statement by the company said the board will “do all in its power” to find someone to return the company to profitability. Zale’s net loss in the fourth quarter ended in October widened, year over year, to $57.6 million. Two of Godlberg’s senior team members have also been shown the door, Bill Acevedo, the “chief stores officer,” Mary Kwan, the “chief merchandising officer.”
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