Events & AwardsJan 20, 2026
These Are the 5 Finalists for the David Yurman Gem Awards GrantThe grant is in its first year and was created to recognize an exceptional fine jewelry designer whose star is on the rise.
MajorsOct 15, 2014
For Signet CEO, the decision to leave was personal
While Mike Barnes’s decision to step down after less than four years seems sudden, it’s not shocking that he wants to relocate to be closer to family.
Akron, Ohio--When the news broke early Tuesday, it caught many who follow the trade off guard.
Signet Jewelers Ltd., the largest specialty jeweler in the world, announced that its CEO Mike Barnes would be stepping down so he could move from Akron, where Signet is based, back to his family’s home in Dallas.
And he’ll be back home in time for Halloween. While some CEOs give a few months’ notice--Gap Inc. CEO Glenn Murphy, for example, resigned last week but will be with the retailer through February--Barnes gave three weeks. His resignation is effective Oct. 31.
The fact that Barnes resigned right now was surprising, said Tim Jackson, a former Signet executive who now heads the Jewelry Research Institute from his home in London, but it’s not altogether shocking that he’s leaving the company.
When the 53-year-old former Fossil executive officially replaced the retiring Terry Burman in early 2011 and did not relocate his family from Texas to Ohio, Jackson said he surmised Barnes would stay about five years. He has been with the company for almost four.
“It’s not a great way to live,” being thousands of miles away from your family, said Jackson, who did a lot of traveling for a time after Signet’s operations shifted from London to Akron.
He added that the conclusion of the Zale Corp. acquisition also meant a shift in direction for the company.
Barnes’s focus is mainly strategy--the company release announcing his departure stated that he led the development of the company’s “Vision 2020 Initiative” and incoming CEO Mark Light is quoted as saying that he’s enjoyed working closely with Barnes to “develop and implement successful strategies to accelerate the growth of Signet organically and through acquisitions.”
In addition to the $1.4 billion Zale buy, which shareholders approved in May, Signet also acquired Ultra Diamonds for $57 million in cash during Barnes’s tenure and since has been turning those stores into Kay outlet stores or its new Jared Vault outlet concept.
Meanwhile, Light handles more of the day-to-day operations of the retailer; he is described in the release as having a “meticulous approach to operational details.”
Light was the company’s president and chief operating officer before being promoted to CEO and has been with the company for 36 years. He has been running the U.S. business, Sterling Jewelers (owner of Kay Jewelers and Jared the Galleria of Jewelry),
Editors' Picks
Sponsored by
since 2006 and took responsibility for the company’s U.K. business in the middle of this year.
Now that the company’s Vision 2020 strategy is in place--which includes getting Zale integrated and making its stores as profitable as possible-- it’s about implementation and operations for the foreseeable future.
“That (the day-to-day) was always going to be Mark’s task, not Mike’s,” Jackson said. “Maybe that’s (also) one of the reasons he decided to leave; there weren’t going to be a lot of strategic, big-picture tasks to be done.”
Simeon Siegel, an executive director and senior retail analyst at financial services firm Nomura, also said he was surprised when the news of Barnes’s resignation broke Tuesday morning. He does, however, remember a comment Barnes made during the company’s latest earnings call that he found interesting at the time, though he didn’t necessarily take it as a sign the executive soon would be resigning.
“Now ultimately I’m responsible for all of this,” Barnes said of Signet as a whole on the call, “but on a more day-to-day basis, I will continue to spend time on corporate functions, support and strategy while our COO, Mark Light, a 36-year veteran who knows the heart and soul of the jewelry business better than anyone I know, will run the operations.”
Both Jackson and Siegel agree that Barnes’s departure won’t have a negative impact on the company, even right before the holiday season.
“If they had to commence a search that would be a huge deal,” Siegel said.
However, Light, the son of former Sterling CEO Nate Light, who ran the company from 1977 to 1995 and was inducted into the National Jeweler Retailer Hall of Fame in 1995, has three decades of experience behind him, and is surrounded by strong team, Jackson notes.
“With Mark Light already there, there is an obvious person ready to take over,” he said.
More on Majors
The Latest
ColumnistsJan 20, 2026
First-Party Data Is the Most Valuable Asset Jewelers Have in 2026Data built on trust, not tracking, will be key to success going forward, as the era of “borrowed attention” ends, Emmanuel Raheb writes.
EditorsJan 16, 2026
Remembering Pete Yantzer for His Contributions and His Kindness Pete’s boundless curiosity extended beyond diamond cut and he was always eager to share his knowledge with others, no matter the topic.
Brought to you by
How Jewelers Can Fight Back Against Cell JammersCriminals are using cell jammers to disable alarms, but new technology like JamAlert™ can stop them.
FinancialsJan 16, 2026
Richemont’s Jewelry Brands Shine in Q3Cartier, Van Cleef & Arpels, Buccellati, and Vhernier had another successful holiday season, Richemont reported this week.
Weekly QuizJan 15, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
TrendsJan 16, 2026
Diane Lane's Brooch Buzzes at the 2026 Golden GlobesOur Piece of the Week is Lagos’ “Bee” brooch that was seen on the red carpet for the first time on Sunday.
CrimeJan 15, 2026
D.C. Rapper ‘Taliban Glizzy’ Sentenced to 18+ Years for Jewelry Store RobberiesTrevor Jonathan Wright led a crew in a string of armed robberies targeting South Asian-owned jewelry stores on the East Coast.
Brought to you by
Impacting Tomorrow TodayHow Jewelers of America’s 20 Under 40 are leading to ensure a brighter future for the jewelry industry.
Events & AwardsJan 15, 2026
Jewelers of Americas’ ‘20 Under 40’ Nominations Now OpenThe program recognizes rising professionals in the jewelry industry.
Events & AwardsJan 15, 2026
Registration for JCK Las Vegas 2026 Is Now OpenA new lifestyle section and a watch showcase have been added to this year’s event.
TrendsJan 15, 2026
Don’t Double-Dip With This Golden ChipAvocados From Mexico is celebrating those who love to double-dip in game day guacamole with a 14-karat yellow gold tortilla chip necklace.
SourcingJan 15, 2026
Nearly 42-Carat Blue Diamond Discovered in South AfricaPetra Diamonds unearthed the 41.82-carat, Type IIb blue diamond at the Cullinan Mine.
CollectionsJan 14, 2026
Marie Lichtenberg Lassos Leather for New BraceletsThe brand is trading its colorful fabric cords for Italian leather in its “Lasso” baby locket bracelets.
TechnologyJan 14, 2026
“My Next Question” Enters Its Podcast Era National Jeweler and Jewelers of America’s popular webinar series is evolving in 2026.
CollectionsJan 14, 2026
Boucheron Names Colman Domingo as Brand AmbassadorThe award-winning actor’s visionary approach and creativity echo the spirit of Boucheron, the brand said.
IndependentsJan 14, 2026
Kansas Jeweler Wins 2025 ‘Wag’ AwardEdge Retail Academy honored Burnell’s Fine Jewelry in Wichita, Kansas, with its annual award for business excellence.
ColumnistsJan 13, 2026
2025 Was a ‘Price Up, Units Down’ Year, Here’s What That Signals for 2026 In a market defined by more selective consumers, Sherry Smith shares why execution will be independent jewelers’ key to growth this year.
IndependentsJan 13, 2026
Orr’s Jewelers Opens New Location in Pittsburgh’s Strip DistrictThe family-owned jeweler’s new space is in a former wholesale produce market.
CrimeJan 13, 2026
Alleged Getaway Driver Charged in Florida Jewelry Store RobberyIvel Sanchez Rivera, 52, has been arrested and charged in connection with the armed robbery of Tio Jewelers in Cape Coral, Florida.
SourcingJan 13, 2026
Rio Grande To Offer Calibrated Diamond MeleeThe supplier’s online program allows customers to search and buy calibrated natural and lab-grown diamond melee, including in fancy shapes.
Events & AwardsJan 13, 2026
NYC Jewelry, Antique, & Object Show Announces Winter EventThe new show will take place Jan. 23-25, 2026.
PodcastsJan 12, 2026
Introducing My Next Question, the PodcastA monthly podcast series for jewelry professionals
EditorsJan 12, 2026
Platinum, White Gold Rule the 2026 Golden GlobesAssociate Editor Natalie Francisco highlights her favorite jewelry moments from the Golden Globes, and they are (mostly) white hot.
GradingJan 12, 2026
Peter Yantzer, Former Executive Director of AGS Labs, Dies at 77 Yantzer is remembered for the profound influence he had on diamond cut grading as well as his contagious smile and quick wit.
MajorsJan 12, 2026
These 14 Macy’s Locations Will Close This YearThe store closures are part of the retailer’s “Bold New Chapter” turnaround plan.
MajorsJan 12, 2026
Jewelers Mutual Acquires AI-Powered Event Insurance ProgramThrough EventGuard, the company will offer event liability and cancellation insurance, including wedding coverage.
MajorsJan 09, 2026
Kendra Scott Taps Activewear Exec as CEO Chris Blakeslee has experience at Athleta and Alo Yoga. Kendra Scott will remain on board as executive chair and chief visionary officer.
