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Zale Corp. announces new president

January 2005


Zale Corp. has announced the appointment of Paul G. Leonard as president of Zales Jewelers.
He will report to Mary L. Forte, president and chief executive officer.

Leonard joins Zales Jewelers from the company's Piercing Pagoda brand, where he has been president
since January 2002, responsible for new merchandising and direct sourcing initiatives that have fueled the
brand's performance. Leonard first joined the company in 1994 as president of corporate merchandising
and later became president of Bailey Banks & Biddle Fine Jewelers.

"Paul is a talented merchant with a proven track record that includes the successful turnaround at
Piercing Pagoda,“Forte said in a statement released Thursday.”Now, his leadership, experience and
energy will be used to help us achieve our goals for Zales Jewelers."

To fill the position vacated by Leonard's promotion, Gil Hollander has been named president of Piercing
Pagoda. He comes to his new job after serving as vice president of merchandising for that division.

Source : National Jeweler Daily News

www.nationaljeweler.com

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