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Multi-millionaire entrepreneur Kendra Scott will pass on her role as CEO of her namesake jewelry company to company president Tom Nolan, the company announced Monday.
Scott has been the CEO of the jewelry empire since its founding in 2002. She will remain the executive chairwoman, majority owner and the leader of the company's design, customer experience and philanthropy efforts.
Nolan was brought on to the company's board in 2014 and has transitioned between different roles until becoming the company president in 2019. With more than 20 years of professional experience, Nolan previously held roles at Ralph Lauren and Conde Nast.
(Kendra Scott)
In a statement, Scott wrote: "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."
Scott created her brand from a spare bedroom in Austin, which has since developed into a powerhouse company with sales of about $360 million, according to Forbes. There are more than 110 Kendra Scott stores, including multiple in Austin.
Nolan worked alongside Scott on the company's flagship launch on South Congress after private equity firm Berkshire Partners invested $1 billion in the company.
"Kendra's vision, sense of purpose, and design ability are second to none and I am both humbled and grateful for the trust she has in me to assume this role. The retail industry is constantly evolving, and I'm thrilled to continue to work alongside Kendra in this new role to not only provide sustainable value, but also with a shared responsibility to serve our customers and continue to positively impact people's lives every day through our philanthropy efforts," Nolan said in a statement.
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Popular
Austin FC fans have been mostly maskless before the city upgraded to Stage 4 COVID restrictions July 23. (Austin FC/Twitter)
Austin returned to Stage 4 restrictions on July 23 as case rates tripled since the beginning of the month and hospital beds once again filled with COVID patients. The spike comes after the highly contagious Delta variant was detected in Travis County. In its Stage 4 announcement, APH said its recommendations will not affect large events, such as Austin FC games, from operating.
More recently, the CDC updated its recommendation for vaccinated people on Wednesday, saying that all people in high-risk areas—including Austin with more than 50 COVID cases per 100,000 people—wear masks.
With businesses reinstating mask policies and new fear in the air, Q2's carefree party atmosphere may be affected. The club released the following statement to Austonia: "Austin FC encourages all guests to observe Austin Public Health's recommendations and take appropriate action based on individual circumstances."
Fan clubs react
Some Austin FC fans are concerned about taking their young kids ineligible for the vaccine to home matches. (Austin FC/Twitter)
Austin Anthem member Seth Rau said he's heard a few people express more concern about home matches. Still, the demand for attending matches at Q2, which regularly reaches full capacity despite a lackluster first-season performance, is not going away anytime soon.
"We're starting to hear stories like, 'Oh, I have a 10 year old kid. My kid can't be vaccinated yet,'" Rau said. "So I think certain people are less willing to maybe go than in the past, but with everyone who doesn't want to go there are five people ready to claim their seats."
Rau said only few wore masks before last week, but at the last match on July 22, he said close to 5% wore masks. Based on sheer estimation as well as what he's heard, Rau said he expects a significant minority to pull out the masks once again when Austin FC plays on Saturday.
Masking recommendations are fine as long as the stadium remains at full capacity, Rau said.
"It's an annoyance, but it's not a big deal," Rau said. "I think if they ever started reducing capacity, that's where there would be true hell to pay."
While supporters groups, like the city of Austin, can't enforce mask mandates, Rau told Austonia they'll strongly recommend masking in certain situations, including taking a bus up to Dallas for the upcoming FC Dallas match. Rau said Stage 4 has brought new concerns and paperwork into the picture for the road trip.
"It's wild. Like, as a supporters' group, we never thought we'd have to worry about collecting people's health records," Rau said. "It is extremely important to us to keep our Verde familia safe,"
Could Q2 become a "superspreader"?
Here is how @GregCasar approached UT Football last fall.
— ADAM LOEWY 📅📲🗽 (@LoewyLawFirm) July 25, 2021
Yes, we this was pre Vax but Stage 4 is Stage 4.
Curious his position now w ⚽️ https://t.co/JAM7I2tRtz
Some have drawn parallels to last fall when City Council Member Greg Casar and Austin Public Health officials strongly advised against in-person fans at University of Texas football games while in Stage 4.
No public official, including Austin FC fan Steve Adler, has commented, which a few have criticized. A city in which 63% of those eligible are fully vaccinated is different from the fall of 2020, however, and Q2 is still within CDC guidelines that don't recommend masks for those fully vaccinated while outdoors.
Still, some share concerns about the crowded stadium becoming a "superspreader," especially after a mass COVID outbreak in Scotland was tied to fans attending Euro 2020 soccer matches. Up to 2,000 fans traced their infection back to a single match, and controversial journalist Piers Morgan, who was fully vaccinated, said he tested positive for COVID on Tuesday after attending the Euro Cup final.
Now THATS a super spreader for the Delta variant. Learned today that the virus spreads like smoke in the air. Let’s get vaxxed up y’all.
— Nick Garza (@nickrgarza) July 23, 2021
No matter the changes, Rau said that the fan club has supported Austin FC even in the strictest of COVID policies and won't stop now.
"We dealt with this at Colorado when we took a couple hundred people to Denver," Rau said. "But we were still able to have a great time in the middle of a pandemic."
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