Kendra Scott steps down as CEO of billion-dollar Austin jewelry company
After nearly 20 years, Kendra Scott is stepping down as CEO of her eponymous company. The Austin-based jewelry designer announced that Tom Nolan, who has served as president of Kendra Scott since 2019, will take over as chief executive.
Nolan first joined Kendra Scott in 2016 as board member before taking over as chief revenue officer in 2016. His cornerstone projects with the company include the Kendra Scott flagship on South Congress Avenue and helping launch the Kendra Scott Women’s Entrepreneurial Leadership Institute, a multi-disciplinary program designed to empower women in business at the University of Texas at Austin.
“Over the last seven years, Tom has been an incredible thought partner to me and a wonderful steward of the brand,” Scott said in a press release. “During this extraordinary time of retail transformation, there has been no better person to partner with me on building the brand and the business. Tom is an experienced executive with a relentless focus on the customer, operational rigor, and strong expertise in digital transformation. With Tom at my side as CEO, I can continue to focus on what I have always seen as the core of the brand — great design, strong philanthropic impact and a continued commitment to our customer.”
Her title might be changing, but Scott will still have a proactive role in her billion-dollar company. According to a February 1 press release, Scott will remain the executive chairwoman, majority owner, and will lead design, customer experience, and philanthropy.
Scott famously began her jewelry line in 2002 with just $500. Today, the Kendra Scott empire includes 110 standalone stores, as well as partnerships with boutiques and major department stores across the country. The billion-dollar brand has also turned Scott into a multimillionaire and one of the richest self-made women in America.