The jewellery model Kendra Scott dismissed three of its high executives this week, parting methods with chief government Tom Nolan, chief monetary officer Jason Friesen, and chief folks officer Danielle Stewart, ADWEEK has realized.
The corporate confirmed the departures in a press release, which is included in full on the backside of the article.
“As a part of this transition, CEO Tom Nolan, CFO Jason Friesen, and CPO Danielle Stewart have departed the corporate,” stated a spokesperson for the corporate. “We’re grateful for the management, experience, and imaginative and prescient they dropped at Kendra Scott.”
The chief shuffle comes on the heels of an funding the model acquired in September 2024 from the personal fairness agency 65 Fairness Companions. As a part of that fairness transaction, founder Kendra Scott elevated her majority possession within the firm.
Scott will now be returning to guide the corporate as interim CEO, based on the corporate. She initially based the model in 2002 and served as its CEO till 2021 when she transitioned into the position of government chairwoman.
She can be joined in her return by Neal Bronzo, a longtime Kendra Scott government, who will step into the mixed position of interim CFO/COO. Beth Ley, a former member of the Kendra Scott management crew, may also return as CPO on Sept. 1.
Constructing on current progress
The change comes amid a interval of speedy growth and structural evolution for the Austin-based way of life and jewellery model.
Between 2023 and 2024, the corporate grew 30%, and noticed 20% year-over-year progress in 2024, now-former CEO Nolan informed Fortune in March. The corporate additionally plans to open 25 new shops in 2025, increasing from roughly 150 areas into West Coast, Northeast and Midwest markets.
Kendra Scott has not publicly shared actual income figures, however Nolan informed Fortune that it does “a number of hundred million {dollars} in income now.” Forbes has beforehand estimated its revenues to be greater than $500 million.
Positioned firmly within the “inexpensive luxurious” phase, Kendra Scott’s costs vary from below $50 to round $1,500 for lab-grown diamond items. The enchantment of Kendra Scott resonates throughout generations. This technique has helped the model thrive at the same time as rivals emphasised high-end, “loud” luxurious whereas many retailers trimmed their retailer footprints throughout a turbulent retail local weather.
Past its core jewellery strains, Kendra Scott has expanded its Western-inspired Yellow Rose accent idea, launched a perfume line, and pursued strategic collaborations with Barbie and Wrangler.
With its founder again on the helm and armed with a personal fairness struggle chest, the corporate seems to be getting into a brand new chapter of its improvement. Scott herself has cause for optimism: She and nation musician Zac Brown introduced their engagement in August.
Under is the total assertion from Kendra Scott.
Following a record-breaking 12 months of progress, together with our milestone partnership with 65 Fairness Companions, Kendra Scott is getting into an thrilling new chapter of growth throughout channels, classes, and markets.
Founder Kendra Scott will return as Interim CEO, having not too long ago elevated her majority possession stake within the firm by way of the 65 Fairness transaction, additional deepening her long-term dedication to the model she constructed.
She can be joined by Neal Bronzo, a seasoned government and longtime Kendra Scott chief, who will step into the mixed position of Interim CFO/COO, and by Beth Ley, a beloved former member of the Kendra Scott management crew, who will return as CPO on September 1, 2025.
As a part of this transition, CEO Tom Nolan, CFO Jason Friesen, and CPO Danielle Stewart have departed the corporate. We’re grateful for the management, experience, and imaginative and prescient they dropped at Kendra Scott.
With a customer-first mission, a gifted and devoted crew, and the momentum of a record-breaking 12 months, the model is well-positioned to construct on its success and ship significant merchandise and experiences for our clients worldwide.
