May 9, 2021

Signet’s New CEO Could Be Eyeing More Acquisitions

Signet Jewelers has a new chief executive officer with a penchant for acquisition-led growth who looks likely to deploy that strategy again.
Virginia Drosos is only five weeks into her tenure as Signet’s first female ceo. She was tapped in July to lead the company amid extensive sexual harassment allegations made as part of ongoing arbitration regarding gender discrimination, as well as flat sales and stock declines.
But Drosos looks to be much more than a token of gender equality. She has decades of executive experience in the consumer products space, most notably 25 years at Procter & Gamble, where she led its global beauty group and oversaw a slew of acquisitions, including Clairol, Wella, Gillette, DDF and Frédéric Fekkai.
She ended up creating a group of 20 brands at P&G doing $6 billion in business. She left the company after it shifted the base of its beauty operations to Singapore in 2012, soon becoming ceo of Assurex Health and joining Signet’s board of directors.
During Goldman Sachs’ retail conference on Wednesday, Drosos admitted that her focus at P&G was acquisitions to support “deep consumer understanding and global expansion,” along with innovations and cross-channel shopping, and she looks poised to continue that at

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