Blue Nile, Inc. (NILE), an online retailer of diamonds and fine jewelry, on Tuesday said Mark Vadon has assumed the new role of Executive Chairman, and that Diane Irvine has been named the new Chief Executive Officer, effective February 7.
Irvine has been with the Seattle, Washington-based company for eight years witnessing the growth of the company from $14 million in sales to $319 million in sales. Irvine began her tenure at Blue Nile as Chief Financial Officer and was later promoted to President. She will continue to serve as President and as a member of the Board of Directors. Prior to joining Blue Nile, she was Vice President and Chief Financial Officer of Plum Creek Timber Company, Inc.
The company said Vadon would continue in his new role to provide strategic direction. He will also continue in his role as Chairman of the Board of Directors.
NILE closed Tuesday's regular trade at $53.85, down $1.35 or 2.45%, on 1.18 million shares.
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