Dallas, Richard Marcus, longtime Zale Corp. board member and chairman since 2004, has resigned from the company, according to the Dallas Morning News.
Marcus joined the Zale board at a critical time, as it was exiting Chapter 11 bankruptcy in 1993, and his tenure included the company’s high-profile turnaround in the 1990s.
Jack Lowe Jr., a Zale board member since 2004, has succeeded Marcus as chairman. Lowe is president of the Dallas Independent School District Board and chairman of Dallas-based mechanical and plumbing contractor TDIndustries Ltd., the report said.
Last week, Zale sold its upscale 70-store Bailey Banks & Biddle chain to Finlay Enterprises Inc. for $200 million and said it will focus on its core middle-market chains.