UK: Terry Green Takes Top Job At Bhs
Speculation about Terry Green, Debenham's former chief ended today when Bhs announced that he is to take the top job at the troubled retailer's.Philip Green, who bought Bhs in March for £200m, said Mr Green's appointment would help to make his pledge to turn the ailing retailer around a reality. "I am absolutely delighted that Bhs has attracted someone of the calibre of Terry Green as chief executive. His track record is outstanding," he said.Terry Green said: "I am very much looking forward to joining the Bhs team and the prospect of working with Philip Green, one of Britain's leading entrepreneurs." The new chief executive said he was excited by the Bhs brand and the strength of its customer loyalty. However, there was much work to be done: "Bhs has been snoozing and [the job] represents one of the most rewarding challenges in retail today," he concluded.Analysts believe that Terry Green can only have a positive impact on Bhs. Bryan Roberts, a retail analyst with Retail Intelligence, said: "Terry Green is a talented retailer and the combination of someone with his skills and Philip Green's aspirations must have a significant impact on Bhs, which was a dismal business when Philip Green bought it in March."Bhs has been having something of a torrid time and it is definitely in need of a complete makeover. While it cannot compete against the likes of Gap or Marks & Spencer, it could do very well if it repositioned itself as a discount retailer," he concluded.It had been rumoured that Terry Green was in talks with Marks & Spencer, but it was announced today that M&S has taken a Kingfisher executive on to its board. Bhs owns 154 stores and employs around 14,000 staff. It is the fifth largest clothes retailer in the UK and, like the rest of the industry, has been hard hit by changing retail trends.
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