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RAPAPORT... Daniel's Jewelers of California appointed Joseph Donaghy as its chief financial officer. The retailer recently received financial backing from private equity group Palladium Equity Partners and embarked on a range of new initiatives, including expansion and strategic acquisition plans, both inside and outside the state.
Donaghy previously served as executive vice president, chief administrative officer and chief financial officer at Ultra Jewelers, prior to and immediately after the chain's acquisition by the Signet Group. Donaghy has also served in senior operating positions at Friedman Jewelers and Crescent Jewelers. Donaghy said, "I am delighted by the unique opportunity that Daniel's presents. This is a company with a strong brand, great leadership team, excellent financial backing and a vision that I believe in. I look forward to being part of the company's expansion and continued success."
David Sherwood, the jeweler's CEO, said, "It is strong recognition of the Daniel's organization and its prospects to have this proven executive join our team." Art Ronci, Daniel's Jewelers senior vice president, was promoted to the role of chief operating officer and will retain responsibility for credit and collections operations, management information systems, customer service and corporate administration.
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