Kendra Scott steps down as CEO of her global jewelry brand

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AUSTIN (KXAN) — Kendra Scott, the 46-year-old Austin resident who founded the billion-dollar global jewelry brand bearing her name, will step down as CEO of the company after 20 years.

The company announced Monday afternoon that Chairman Tom Nolan would be promoted to CEO, while Scott would remain majority shareholder and executive chairman.

“I’ve been CEO for 20 years, but over the past six or seven years, Tom and I have been able to work together and forge not only a great business partnership, but also an incredible friendship,” Scott said in a statement. interview with Women’s Wear Daily. “I always thought this day would come…it’s an exciting time for the company, and I know he’s the right man for this job – there’s no one around. someone else I would feel comfortable taking on this role with.”

Nolan previously held brand strategy and management positions at Ralph Lauren and Condé Nast.

Scott told WWD that she will continue to focus on the company’s philanthropic projects, in addition to improving customer experience and design.

In 2016, the Kendra Scott brand was valued at $1 billion, making Scott number 36 among America’s Richest Self-Made Women. Scott, who also appeared as “Shark” on ABC’s entrepreneur investing show “Shark Tank,” joined the faculty at the University of Texas at Austin last year to co-teach a course on women in entrepreneurship.

“Mom K’s Going Nowhere” Scott told WWD about his new role. “My name is on this brand – it means so much to me. I’m taking on a different role, but I’ll be like Coco Chanel, cutting the ribbon of a store opening at 90.

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