Management Turnover as Change Agent

Monday, March 10, 2008

Online Jewelry Company, Blue Nile See Another CFO Turnover

Blue Nile NILE (NASDAQ) the online jewelry company finds itself with another CFO opening. Over the last year the position became vacant two other times. Robin Easton, who took over the company's CFO job back in September, resigned today and his resignation will become effective March 31 "to pursue other interests." Back in June, Scott Devitt, who served as Managing Director and Senior Analyst, Internet Consumer Services at Stifel Nicolaus & Co., was named chief financial officer. Shortly after his appointment, Devitt cited personal reasons and turned down the job.

Easton's latest resignation according to an AP story in the Houston Chronicle comes while,
Blue Nile shares dropped $3.01, or 7.2 percent, to $38.95 in morning trading. In the past year, the stock has traded between $38.21 and $106.16.
The company has been floundering as the retail environment continues to remain challenging. Keep a close eye on how Blue Nile manages to handle this type of dysfunction.

For more:

Puget Sound Business Journal

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