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Breeden & James join Zale BoD
19
Jan '08
Zale Corporation, a leading specialty retailer of fine jewelry in North America, announced the appointment of two new directors to its Board. The Company said that Richard C. Breeden and James M. Cotter have joined the Board, effective January 17, 2008, expanding it from the current six members to eight.

John B. Lowe, Jr., Chairman of Zale Corporation, said, “We have invited Richard Breeden and Jim Cotter to join the Zale Board and look forward to benefiting from their perspective and experience as investors and strategic advisors as we seek to generate long-term value for shareholders.

Zale's Board and management team, led by newly appointed President and CEO Neal Goldberg, is executing an operating strategy that is focused on financial discipline and the revitalization of the company's core mall business, and which we believe will position this company for improved performance.”

“We believe that there are major opportunities for Zale to strengthen its profitability and its market value. We are excited to join with the board and the Zale management team in pursuing those opportunities with vigor and immediacy,” said Richard C. Breeden, Chairman of Breeden Capital Management. “Zale has a long history and a solid market position. We are looking forward to working with management and new President and CEO Neal Goldberg over the long-term to generate attractive value for Zale shareholders.”

Mr. Breeden is the Chief Executive Officer and Chief Investment Officer of Breeden Partners and its manager Breeden Capital Management. Breeden Partners has more than $1 billion in assets under management and owns more than 18% of the outstanding shares of Zale.


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