James (Jim) N. Fernandez, former Vice President and Chief Operating Officer (COO) of Tiffany & Co., has given his consent to join the newly formed Advisory Board by Sarine Technologies Ltd, the Company said.

Fernandez, who retired from Tiffany in 2014, had overall responsibility for finance, information technology, distribution, manufacturing; and Tiffany’s diamond and gemstone division as the jewellery Company’s COO. He was also on the board of The Tiffany & Co. Foundation.

Joining Tiffany in 1983 as manager of accounting, Fernandez assumed responsibility for financial planning in 1986.  After serving as the Company’s CFO for 22 years, he was appointed Executive Vice President and COO in June 2011. “During his extensive career Mr. Fernandez played a significant role in the development and execution of Tiffany’s strategic direction, growing the company from a small domestic jewelry brand with US$ 100 million into a global luxury brand with over US$ 4 billion in sales and a market cap in excess of $12 billion,” Sarine said. “He had the lead role in developing the company’s supply chain, growing the company’s finished goods manufacturing capabilities, establishing a world-class diamond sourcing and manufacturing division and executing distribution strategies to support the company’s worldwide expansion.”

Amongst his many appointments, Fernandez has served on the Board of Directors of The Dun & Bradstreet Corporation since 2004 and currently chairs its Audit Committee and is a member of its Nominating and Governance committees.  

Daniel Benjamin Glinert, Sarine's Executive Chairman of the Board said, "We are extremely proud that Jim Fernandez has agreed to join us and serve on our Advisory Board. His participation will bring with it a wealth of experience, knowledge and networking that will greatly benefit the Company, as it develops and markets its products and services for the retail diamond trade.”

Glinert further explained: "The new Advisory Board, formed in lieu of the Executive Committee of the Board, will comprise, in addition to Mr. Fernandez, our Independent Director, Ms. Varda Shine, who retired as CEO of De Beers’ Diamond Trading Corporation in 2014 and has 30 years’  experience in the diamond industry;  Mr. Eyal Mashiah, a prior Executive Director at Sarine, with over 30 years’ experience in the diamond industry running his family’s business in the manufacturing and wholesale trading of fancy coloured diamonds, and myself."