Details Released on Severance Pay for Former Zales Execs

Zale’s former chief executive officer, Neal Goldberg, will receive $600,000 in severance pay, according to JCK Online. William Acevedo, the company's former chief stores officer, will receive severance pay of $337,500.

The two will receive their severances in lump sum installments.

Three of Zale’s top executive team recently left the company after it posted sales losses for the 2009 holiday season, including a 12 percent decrease in same-store sales. Together with Goldberg and Acevedo, Mary Kwan who served as Chief Merchandising Officer also left the company. No details were immediately available about Kwan’s severance pay.