MajorsApr 12, 2022
Watches of Switzerland Shifts Executive TeamMajorsApr 13, 2022
Caryl Capeci Out as Rebecca Foerster Takes Over at Hearts On Fire
Foerster is the diamond brand’s new president for North America while Capeci is stepping down as CEO of Chow Tai Fook North America.
Boston—Hearts On Fire has a new leader.
The Chow Tai Fook Jewellery Group-owned, U.S.-based diamond brand announced Tuesday that Caryl Capeci is stepping down as CEO of Chow Tai Fook North America while Rebecca Foerster joins the company as president of Hearts On Fire NA amid a “rebranding.”
Capeci has been with Hearts On Fire since 2007. She was promoted to president in 2016 and became CEO of the newly formed Chow Tai Fook North America in 2019.
Chow Tai Fook has owned Hearts On Fire, as well as sister brand Mémoire, since 2014.
Hearts On Fire declined to elaborate on Capeci’s departure beyond noting it was part of the rebranding of its parent company’s North American operations and the “sharpened focus” on the Hearts On Fire brand.
“It has been a pleasure working with Caryl,” Hearts On Fire Global President Rita Maltez said in a press release. “All of us at Hearts On Fire thank Caryl for her dedication, passion, and professionalism and wish her all the best for the future.”
Foerster joins Hearts On Fire from Alrosa, which is closing down its U.S. operations due to the sanctions that resulted from Russia’s invasion of Ukraine.
Foerster was president of Alrosa USA.
Prior to that, she worked as executive vice president of strategic planning and marketing at Leo Schachter Diamonds, headed the U.S. office for Rio Tinto, and served as vice president of marketing for Frederick Goldman Inc.
Foerster’s appointment is effective May 1. She will manage Hearts On Fire’s representative office in Boston and will be responsible for all North American regional operations.
Capeci’s exit comes about a month after another major change at the top for the Boston-based diamond brand.
In mid-February, industry veteran Peter Smith, president of Hearts On Fire and Mémoire since 2019, was let go, with Capeci telling JCK at the time that his role had been “eliminated” and there were no plans to replace him.
Hearts On Fire NA will oversee the Mémoire brand going forward, the company said.
It said there are no additional executive changes planned at this time.
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