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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

I am leaving because as an enthusiastic student of business, I want to pursue Board positions and advisory roles for luxury brands and other high-end companies, where much of my marketing and financial skills have been honed over a 30-year period.

I am enormously proud of what we have been able to accomplish, as I believe you know. Our current financial position is a tremendous feat in the recent economic environment. I believe it stands as a tribute to the ability, discipline and commitment to which all of you contribute each and every day.  The team we have built is strong, and the Company is stable and poised for further growth. This is a good time to transition to new leadership that will guide Birks & Mayors through its next chapter in history. The opportunities that lie ahead for Birks & Mayors are indeed great as we look to the further development of the Birks brand and product assortment as well as our expansion plans abroad.

When I look back on these last 15 years, I think of the impact we had - together - on this great Company. How together we turned around Birks, re-merchandised our product assortment and re-designed and rebuilt our stores. We repositioned our brand with fresh advertising, marketing and merchandising initiatives. We built state-of-the-art information technology systems, enabling world class financial reporting.  This also helped us develop internal controls and corporate governance that we believe are best practices for a public company like ours.

We acquired Mayors in 2002 and Brinkhaus in 2007, and we successfully integrated these companies with Birks. We turned Mayors around in two short years; and then hit a brick wall during the 2008 and 2009 recession. It was challenging, but we all pulled together and got through it. Now we believe we are well positioned to grow and achieve new heights.

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