|
RAPAPORT... Mark Vadon the co-founder of Blue Nile notified the board of his decision to step down as chairman and director of the board on December 31, 2013. Vadon's decision to leave the board was not tendered in connection with any disagreement, or any matter related to the company's operations, policies or practices, according to the statement. Vadon served as CEO from March 18, 1999 to February 2008 and became board chairman in February 1999. Upon Vadon's departure, the size of Blue Nile's board will be reduced from nine to eight members and Harvey Kanter, Blue Nile's president and CEO, and a member of its board, will be appointed the chairman. Kanter will not receive additional compensation for his role. Blue Nile will continue to have a lead independent director.
“Founding and being a part of Blue Nile for the past 14 years has been a great honor and I am tremendously proud of the entire team for fostering our culture of innovation and obsession over each and every customer,” Vadon said. “After working with Harvey and his leadership team over the last year and seeing the impressive growth trajectory of the business, the entire board and I feel confident passing the chairmanship to Harvey to continue to build a global consumer brand.” Kanter added, “Mark revolutionized the diamond industry and founded Blue Nile on the principle that there is a better way to buy diamonds and fine jewelry by offering unique online tools, high quality diamonds, and incredible values. That is and will always be his legacy and the company will continue to execute his vision and bring the Blue Nile advantage to consumers.”
|