Members of the family that owns Baltimore-based Smyth Jewelers have stepped in to run the company in a management change at the more than century-old retailer.
Tom Smyth, a third-generation family member, will head the company as co-president along with his cousins, also co-presidents, Bob Smyth and Leonard "Buzz " Getschel. Members of the fourth generation have executive roles as well, including Bob Yanega who was promoted to CFO.
Former CEO Mark Motes and John Jackson, former vice president of operations, have left the company, Tom Smyth said. He described the departure of Motes and Jackson as "a friendly departure."
Smyth said he and his cousins had run the company for years before bringing in Motes 19 years ago and Jackson 16 years ago, allowing the Smyth cousins to step back from day-to-day operations. Under the former leadership, Smyth opened 11 Pandora stores and eight gold buying locations, all of which have since been sold. The company now runs three Smyth stores, in Timonium, Ellicott City and Annapolis.
"We're getting back to where we just want to run those three stores and run them as well as possible," focusing on customer service, staff expertise and strong categories such as engagement rings, Smyth said. "The family is getting re-engaged in the family business."
Albert Smyth founded the jewelry business in Baltimore in 1914. It employs 140 people.