Online, catalogue and stores retailer N Brown Group is to start the search for a new chief executive after announcing the imminent departure of Angela Spindler.
The company, which recently entered into a consultation to consider closing its 20 stores, says Spindler will leave her role at the end of September.
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She has led the business through a period of significant change and its transition towards an online retailer, and will hand the reigns to Steve Johnson, CEO of N Brown’s financial services business, on an interim basis. He will join the board with immediate effect.
“Over the last five years we have undertaken a significant transformation across the business to support our online future, which will form a strong foundation for the coming years,” says Spindler. “I wish Steve Johnson well in his role as interim group CEO when I leave at the end of September and would like to thank him and all the N Brown executive for their wonderful support throughout my leadership.”
Matt Davies, chairman of N Brown Group, adds: “We recognise that now is an appropriate time to search for a new leader who can take the business forward through the next phase of its development. I would like to thank Angela for her significant contribution as CEO.
“Angela has led the business with passion, energy and a relentless focus on building on the group’s industry leading fit specialism as well as building N Brown’s on-line capability and expertise. She has had to contend with significant legacy issues and a challenging retail backdrop and has brought her great personal qualities and values to the way she has led our business.”
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By GlobalDataThe company will be announcing its first-half results on 11 October. In June, N Brown reported a 0.4% increase in group revenue and a 2.8% fall in product revenue, as ladieswear declined by 4.2% and menswear by 3.2%. Footwear and accessories also slipped, falling 5.4%.
Disappointing footfall has led the company to consider closing all of its bricks and mortar stores ahead of lease expiry. The consultation process is expected to be completed around the time of the firm’s half-year results.
