Sept. 21, 2011
After leading Birks & Mayors Inc. for more than 15 years as President and Chief Executive Officer,
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
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
, 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:
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.