Blue Nile Inc. (NASDAQ: NILE) is losing a key member of its merchandising team. The online jewelry, diamond, and raw stone destination has a filing with the Securities and Exchange Commission showing a “Change in Directors or Principal Officers.” While this is not the CEO nor the CFO, the retirement announcement is pertaining to Senior Vice President Sue Bell.
What makes this position important is that Bell currently oversees the merchandising, planning and diamond supply functions for Blue Nile. This is probably not a “three people in the world can do this” position as far as the company is concerned, but any transition in this function could create a disruption if changes in procedure and policy are made.
Blue Nile noted that Ms. Bell has been with Blue Nile since September 2001. The company also said in the filing that it has already initiated a search for a new executive who would be in charge of the functions around merchandising, planning and diamond supply functions.
Shares of Blue Nile are not reacting negatively to the news but this stock can have a bit of a cult following. Shares are up 3.6% at $30.09 against a 52-week range of $25.59 to $50.41.
JON C. OGG