X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

CHICAGO-Just one month after posting a $4.9 million loss, national jewelry retailer Whitehall Jewellers has shaken up its Board of Directors with the appointment of current director Steven J. Pully to the position as the company’s chairman of the Board, and the naming of Jean K. FitzSimon to senior vice president, general counsel and corporate secretary.

Pully succeeds former board chairman Daniel Levy, who stepped down from that position but remains a board member. Levy has served as interim chairman since March 30 following the death of Hugh Patinkin, the company’s former chairman and chief executive officer.

Officials from Whitehall Jewellers did not return calls from GSR seeking comment.

The move comes just one month after the specialty jeweler posted a net loss of $4.9 million for the first quarter of 2005 in which net sales also declined 2.8% to $71 million from $73 million in the prior-year period. The losses follow a $3.7 million net loss in first quarter of 2004.

Pully, who served as the president of Newcastle Capital Management LP since January 2003 and has been with Newcastle Partners since December 2001, took over the company’s reins Tuesday after Levy announced that he was surrendering the chairmanship.

“I am excited about the opportunities for Whitehall and look forward to working with the Board and management to build on the strengths and traditions of the company,” Pully said in a statement released by the company. He also praised Levy’s “years of dedication to the Whitehall organization.”

FitzSimon served as the General Counsel and a principal with Bridge Associates LLC, a New York-based consulting firm, since 2002.

Whitehall operates 386 stores in 38 states and has locations in shopping centers under the names of Whitehall Co. Jewellers, Lundstrom Jewelers, and Marks Bros. Jewelers. Shares of the company’s stock, which dipped to $6.95 from $7.03 by noon Tuesday following the company’s announcement.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.