RETURN TO ZALE: Zale Corp. named Paul Leonard as president of its Piercing Pagoda division, which sells jewelry through kiosks in malls. Leonard will oversee the day-to-day operations and report to Mary Forte, executive vice president and chief merchandise officer of Zale. Leonard was with Zale in the Nineties as president of corporate merchandising, and later president of its Bailey Banks & Biddle division. Since May 1999, he has served as executive vice president and chief merchandise and marketing officer for Friedman’s Jewelers. Leonard also held various jobs at Macy’s, May Co. and Ames. John Eureyecko last held the title of president at Piercing Pagoda.

MULTICHANNEL MARKETING: AOL Time Warner and Unilever said Wednesday they’ve signed a multi-million dollar deal, enabling Unilever to hawk its personal care and food products across a broad range of the media giant’s properties, like America Online, Turner Broadcasting stations, the WB Network and Time Inc. magazines. Nearly 25 percent of Unilever’s $46 billion in annual sales come in the U.S., via brands such as Dove, Pond’s, Vaseline, Q-tips, Finesse, and the cosmetics and fragrance products of Calvin Klein, Nautica, and Lagerfeld.

i2 INVESTS: Dallas-based i2 Technologies, a pioneer in supply-chain software, has plans to invest $20 million in India over the next two years in a bid to boost product development while lowering costs. About 150 of i2’s U.S.-based employees will be shifted this month to India, where about 20 percent of its software currently is developed. Shares of i2 added 36 cents, or 4 percent, to close at $9.16 in Nasdaq trading Wednesday, and have ranged between $2.98 and $61 in the past 52 weeks.

EBAY’S TRADES: The Sweetwater Trust, which counts eBay chief executive officer Meg Whitman as a trustee, registered Tuesday to sell 600,000 shares, or about $40 million worth, of eBay stock. Shares of the San Jose, Calif.-based Internet auction giant gave up 65 cents to close at $66.89 in Nasdaq trading Wednesday. The issue has traded between $28.43 and $72.74 over the past 12 months.