Reshuffle in Finlay’s Top Management

U.S. jewelry retailer Finlay Enterprises, Inc. announced the retirement of two top executives, as the company is transitioning its business model.

Executive Vice President and Chief Operating Officer Joseph M. Melvin will retire effective as of June 30. Melvin also serves as president and chief operating officer of wholly-owned subsidiary, Finlay Fine Jewelry Corporation.

Leslie A. Philip, executive vice president and chief merchandising officer of the Finlay and Finlay Jewelry, will retire May 26.

Karin Knudsen has been promoted to the position of Executive Vice President of Merchandising and Marketing of Finlay Jewelry. She has served in various positions with Finlay Jewelry since December 1984. Most recently, Knudsen was a regional vice president responsible for managing Finlay Jewelry's relationship with Macy's Central.

Finlay recently closed its North Carolina offices and is leaving the store-within-department store business model it was closely associated with. The jewelry retailer is shifting its focus to become a national chain store operator. It purchased from Zale the Bailey Banks & Biddle chain of 67 jewelry stores and operates 35 Carlyle and five Congress specialty jewelry stores.