UK: Arcadia Group announces new CEO
UK retailer Arcadia Group has announced that current COO Ian Grabiner is to become the CEO of the company.
It follows the integration of founder Sir Philip Green's BHS department store chain into his Arcadia Group of stores, which was completed in July.
Arcadia said today that Grabiner will become chief executive of the enlarged group, having joined as COO in 2002 - when Sir Philip first bought Arcadia.
At the time he replaced departing Arcadia chief executive Sir Stuart Rose - who went on to lead Marks and Spencer.
Arcadia's billionaire founder Sir Philip posted a 13% increase in full-year pre-tax profit at the company this morning (22 October).
Prior to joining Arcadia, Grabiner ran retail group GUS' distribution and call centre units having previously held senior executive positions with sportswear chain Sports Division and women's apparel retailer What Everyone Wants.
A spokesperson for Arcadia told just-style today that his appointment did not signal Sir Philip taking any kind of back seat, but rather reinforcing his executive team to deal with BHS' integration.
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