Shares of Signet Jewelers traded sharply lower after the jewelry company announced CEO Virginia Drosos would be retiring on Nov. 4. Signet appointed J.K. Symancyk, who most recently served as the chief executive of PetSmart,

Signet Jewelers, the world’s largest retailer of diamond jewelry, said Tuesday that Virginia “Gina” C. Drosos is planning to retire as chief executive officer and as a member of the board of directors. Her 12-year tenue will end November 4.

Her successor as CEO: J.K. Symancyk, who on Monday, Sept. 30, stepped down as CEO of pet-supplies retailer PetSmart Inc. Symancyk also will join the Signet board. Drosos will serve as an adviser through the end of Signet's fiscal year "to support a smooth transition," the company said.

Virginia Drosos, who spent seven years as Signet Jewelers' CEO, announced she is retiring effective Nov. 4. J.K. Symancyk will replace her.

Signet Jewelers Limited, the parent company of Ernest Jones and H. Samuel in the UK, has announced that Gina Drosos, its CEO for the past seven years, is retiring. She will be replaced by J.K. Symancy from November 4 following what is described as a thoughtful succession and search process.

Having served as CEO for seven years, Virginia C Drosos will be succeeded by JK Symancyk at the beginning of the new fiscal year

Zales and Kay Jewelers owner Signet Jewelers Ltd. is bringing on J.K. Symancyk, the chief executive officer of PetSmart Inc., to replace the retailer’s retiring head Gina Drosos.