Blue Nile Loses Head of Merchandising & Diamond Supply
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…
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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
Contact [email protected] for any questions or corrections.
Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.
