Queen of Diamonds Was in the Hole

Zale Corp. (Irving, Texas) has found the person to replace retiring ceo Robert DiNicola: Mary Forte, who has been the jewelry retailer's executive vp and chief merchandising officer since last year.

DiNicola, who announced his latest resignation in March, will remain as chairman of the board in a non-executive capacity. At the time of the announcement, Forte was one of three Zale executives mentioned as a possible replacement.

Forte, a 26-year retail veteran, joined Zale in 1994 as president of Gordon's Jewelers and served in that position until 1998, when she became corporate executive vp and chief administrative officer. Prior to joining Zale, she had served in executive positions at QVC and at the Bon Marche and Rich's divisions of Federated Department Stores.

DiNicola has resigned twice from Zale after joining the company in 1994, a year after Zale's emerged from bankruptcy protection. He retired in 2000, but returned in February 2001 when his successor, Beryl Raff, resigned to go to J.C. Penney Co.