J.C. Penney Co.’s top jewelry executive Beryl Raff is leaving the Plano-based department store chain to become chairman and chief executive officer of Helzberg Diamond Shops Inc., a wholly-owned subsidiary of Berkshire Hathaway Inc. Raff joined Plano-based Penney in 2001 from Irving-based Zale Corp. where she was chairman and chief executive officer. She leaves Penney as executive vice president and general merchandise manager of fine jewelry. The jewelry business has been one of the weakest in retail, along with luxury overall as shoppers have put off discretionary spending. At Helzberg, a 270-store chain, she will replace Marvin Beasley, who resigned effective Monday. Berkshire Hathaway chairman Warren E. Buffett said Raff is “widely recognized throughout the retail industry as an outstanding merchant and strong multi-store retail executive. She will bring a finely balanced blend of merchandising instinct and analytical sharpness to her new position.” She has been appointed after Marvin Beasley was sacked unexpectedly today. Raff has more than 25 years of experience in the jewelry business, including time at Macy’s Inc. before she joined Zale in the 1990s.04:00 PM CDT on Monday, April 6, 2009
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