Blue Nile Inc announced that Scott Devitt has been named Chief Financial Officer (CFO) of the Company and will assume this role on July 23, 2007. As CFO, Devitt will have responsibility for the Company's finance functions, including accounting, financial reporting, financial planning and analysis, treasury, tax, and investor relations.
Devitt joins Blue Nile from Stifel Nicolaus & Company, where he serves as Managing Director and Senior Analyst, Internet Consumer Services. Devitt holds an M.B.A. from the University of Georgia and a B.A. in Finance from the University of North Florida.
His in-depth understanding of internet retail companies and the public markets positions him to have tremendous impact at Blue Nile. Devitt will report to Diane Irvine, who has served as Blue Nile's CFO since 1999. Irvine will complete the transition to her new role as President.
"We are thrilled to have Scott join our team," said Irvine. "Blue Nile is at an important stage of its growth. Scott has the talent to help build our business into the world's dominant jewelry retailer."
"I am very excited to join the Blue Nile team," said Devitt. "The Company has achieved strong financial performance, has a capital efficient business model, and is well positioned as the leader in online jewelry retailing. I look forward to contributing to Blue Nile's continued success."
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