• January 14, 2010

Zale Corp. says that CEO Neal Goldberg, William Acevedo, chief stores officer, and Mary Kwan, chief merchandising officer, are out.

Theo Killion, president, has been promoted to interim CEO.

Last week, the Dallas-based company said its comparable-store sales tumbled 12% for the combined months of November and December 2009, encompassing the entire holiday selling period, while total revenues for the period fell 15.1%.

"Our board is determined to do all in its power to put in place effective leadership to help return the company to profitability," the company says in its release. "These management changes will help facilitate renewed focus on Zale's core diamond business."--Sarah Mahoney