Zale Chairman Steps Down
Dallas, Richard Marcus, longtime Zale Corp. board member and chairman since 2004, has resigned from the company, according to the Dallas Morning News.
Marcus joined the Zale board at a critical time, as it was exiting Chapter 11 bankruptcy in 1993, and his tenure included the company’s high-profile turnaround in the 1990s.
Jack Lowe Jr., a Zale board member since 2004, has succeeded Marcus as chairman. Lowe is president of the Dallas Independent School District Board and chairman of Dallas-based mechanical and plumbing contractor TDIndustries Ltd., the report said.
Last week, Zale sold its upscale 70-store Bailey Banks & Biddle chain to Finlay Enterprises Inc. for $200 million and said it will focus on its core middle-market chains.