UK: Hobbs CEO Dulieu to step down
Nicky Dulieu will retain a non-executive role within Hobbs
Nicky Dulieu, the CEO of women's fashion retailer Hobbs, is to step down after five years in the role.
She joined Hobbs as finance director before being promoted to managing director in 2008 and chief executive a year later. However, Dulieu will retain a non-executive role at the retailer, working alongside newly-appointed chairman Phil Wrigley.
Earlier this month, private equity firm 3i wrote down the value of its investment in the women's wear brand by GBP14m (US$22.9m), blaming weak trading during the Christmas period. The group bought a 47% stake in Hobbs in 2004 for GBP111m.
A spokesperson for Hobbs declined to comment further on the departure of Dulieu.
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