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Tom Andruskevich Announces Plans To Resign From Birks & Mayors Inc. In Spring 2012; Will Continue In New Board Role As Vice-Chairman

Stocks in this article: BMJ

MONTREAL, Sept. 21, 2011 /PRNewswire/ - After leading Birks & Mayors Inc. for more than 15 years as President and Chief Executive Officer, Tom Andruskevich announced today his plans to resign from the Company in the spring of 2012 after a successor has been named. Mr. Andruskevich joined the Company in his current capacity in June 1996.

In commenting on the announcement, Lorenzo Rossi di Montelera, Chairman of Birks & Mayors, said, "Tom's contributions to the Company's growth and stability have been extraordinary. He has overseen our development and expansion, stabilizing and repositioning Birks as the premier luxury jewelry brand in Canada, and acquiring and integrating US jeweler Mayors, which he rebranded as the premier luxury retail jeweler in the Southeastern U.S. He has led the Company to a greatly improved financial condition after a period of challenge in the sector. Tom's history of success in turn-around situations as well as his leadership skills and sophisticated financial experience have worked very well for us; he has our great appreciation and respect. His legacy here will be substantial."

Dr. Rossi said that the Company's Board and Mr. Andruskevich have been working together in a search for a successor and to ensure that the transition will be smooth and seamless. At the Board's request, Mr. Andruskevich agreed to continue as Vice-Chairman of the Board after the transition is complete and to serve on the Board's Executive Committee.

Following is an excerpt of a letter sent by Mr. Andruskevich to Birks & Mayors employees today:

"Dear Colleagues:

I'm writing to tell you that I have decided to leave my current position with Birks & Mayors this coming Spring. The Board and I have been working together for some time to find the right successor, and I have been asked to stay on as Vice-Chairman, which I am pleased to do.

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