A month after being asked to stand aside, Michael Mishevski, the CEO of Showcase Jewellers for over 18 years, has resigned from his position.
Announcing Mishevki’s resignation in an official letter addressed to “Showcase Jewellers preferred suppliers and business partners”, Showcase Jewellers chairman George Proszkowiec said:
“The Board wishes to inform you that Michael Mishevski will be resigning from his position as CEO of Showcase Jewellers (JIMACO Ltd) as at 31 July 2014. After 29 years, 18 of which as CEO, Michael has decided that it is time for a change.
“The Board recognises Michael’s achievements, including his leadership of the Showcase support office team in assisting all members to grow their businesses during his term as the CEO of JIMACO Ltd.
“The Board appreciates Michael’s efforts and wishes him the best in his future endeavours.”
The resignation follows an investigation into the buying group’s operations which commenced last month.
In an email sent to suppliers and business partners at that time, Proszkowiec said Mishevski had been asked to stand aside on full pay in response to “certain matters that have been raised by our auditors, and in line with the Board’s commitment to good corporate governance and following due process”.
He stressed that “pending the results of the investigation, no adverse inferences should be drawn as to Michael’s role, or indeed any other person’s role, in the matters under review”.
Speaking to Jewellery World, Proszkowiec said Mishevski’s resignation will make “absolutely no difference” to the buying group’s dealings with its suppliers and business partners.
“The organisation is continuing to move forward,” he said. “The relationships we have formed will continue in the future.”