TrendsJun 16, 2026
Post-Vegas Jewelry Trend Report: Big Beads, Western Flair, White MetalsAssociate Editor Natalie Francisco lists the trends she spotted during Jewelry Market Week that will dominate the second half of 2026.
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
SourcingJun 16, 2026
GemGuide Updates Ruby PricesIts app now reflects increased prices for Mozambique ruby, as well as changes to its Burma ruby charts.
IndependentsJun 15, 2026
DeBoulle Diamond & Jewelry to Renovate Dallas FlagshipThe revamped, elevated space will feature a two-story Patek Philippe atelier and a rooftop patio for parties.
Brought to you by
Building the Future of Jewelry Retail: DCA Expands Education, Leadership Development, and Workforce SolutionsDCA is preparing the next generation of professionals by supporting workforce development, leadership growth, and career advancement.
WatchesJun 15, 2026
G-Shock, Coca-Cola Partner on Bottle-Inspired WatchThe special-edition piece marks the 140th anniversary of the iconic beverage brand.
Weekly QuizJun 11, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
TrendsJun 15, 2026
Amanda’s Style File: Tiny Charms Are TrendingHere are 13 small charms to inspire your layered looks this summer.
AuctionsJun 12, 2026
16th-Century ‘Hogback’ Diamond Ring Going Up for Auction in LondonFound by a metal detectorist, the ring likely belonged to a wealthy, possibly royal, owner, said Noonans.
Brought to you by
All Eyes on Gold Prices. Alternatives to Look For. And What to BEWARE of in VegasAs gold prices rise, today’s retailers are looking for alternatives at prices that will appeal to wider audiences.
CollectionsJun 12, 2026
Chouette Designs To Launch Collection Celebrating All Types of LoveOur Pride Month Piece of the Week, the “Margaux” ring, is part of the wife-and-wife team’s new “Lovestoned” collection.
Events & AwardsJun 12, 2026
CBG Announces Plans for Phoenix ShowThe group has named the keynote speaker and announced a new pavilion for its next event, which is slated for September.
EditorsJun 11, 2026
This Was the Best Animal Jewelry in Las Vegas From lions and hippos to snails and fish, Senior Editor Lenore Fedow wrangles her picks for cutest jewelry critters in Las Vegas.
SourcingJun 11, 2026
Grandview Klein, London Jewelers Partner To Cut 63-Carat RoughThe big stone will be fashioned into a 20.26-carat diamond in celebration of the retailer’s 100th anniversary this year.
MajorsJun 11, 2026
Former Cartier Creative Director To Head Chanel’s Jewelry Creation StudioMarie-Laure Cérède will join Chanel as the new director of its jewelry creation studio, starting in October.
Lab-GrownJun 11, 2026
Smiling Rocks’ ‘Wish Jar’ Generates 100+ Wishes in Las Vegas At the JCK show, the lab-grown diamond brand teamed up with Jewelers for Children to support Make-A-Wish India.
SourcingJun 11, 2026
Signet Jewelers Exec Joins Diamonds Do Good BoardIlana McCabe is Signet’s vice president of public relations and brand communications.
AuctionsJun 10, 2026
31.62-Carat ‘Azure Blue’ Diamond Sells For $8M+ at Christie’sIt was a banner day for blue gemstones, with another blue diamond topping $8 million and a 41-carat sapphire going for $2.3 million.
MajorsJun 10, 2026
Saks Global Receives Bankruptcy Court Approval for ReorganizationThe approval means the retailer is on track to exit bankruptcy proceedings this summer.
CrimeJun 10, 2026
2 Suspects Arrested in Texas Jewelry Store RobberyThe men are believed to be part of the group of several masked suspects that robbed Marc Robinson Jewelers in April.
CollectionsJun 10, 2026
Sylvie Debuts ‘Elevated’ Bridal Collection Inspired By Designer’s RingThe bridal-focused brand is also launching its Custom Atelier this summer, a digital custom design tool for its authorized retailers.
EditorsJun 09, 2026
Q&A: Al Cook on the Lab-Grown ‘Bubble,’ Dwindling Diamond Supply The De Beers Group CEO also discussed tariffs, Desert Diamonds, and the pending sale of De Beers in an interview with Michelle Graff.
MajorsJun 09, 2026
Wilkerson's Russ Whitehouse RetiresThe industry veteran is bringing his 56-year run in the fine jewelry sector to an end.
Events & AwardsJun 09, 2026
Pride Month Panel to Highlight LGBTQ+ Jewelry VoicesThe panel discussion will feature LGBTQ+ leaders across the jewelry, luxury, and creative industries.
CollectionsJun 09, 2026
Marie Lichtenberg’s New Capsule Collection Is a Smash, LiterallyInspired by a locket that got run over, the “Smash” capsule collection reimagines the shape of Lichtenberg’s signature style.
MajorsJun 09, 2026
Frederick Goldman Names Director of Sales for SoutheastThe company has promoted Katherine Whitacre to the role.
MajorsJun 08, 2026
Stuller Expands Selection of Lab-Grown Diamonds, Demi-Fine JewelryThe jewelry manufacturer has added Taylor Swift-esque diamond shapes, and more silver, gold vermeil, and gold-plated jewelry.
SourcingJun 08, 2026
Sally Morrison to Depart De Beers This Summer Morrison has been marketing diamonds on and off since the early 2000s and said she is leaving to “pursue new projects.”
TrendsJun 08, 2026
Amanda’s Style File: June’s Birthstone TrioThose born in June can celebrate with pearl, alexandrite, and moonstone jewelry.
