In an announcement today (6 June) New Look said Oddy had taken the decision to step down as CEO and leave the business.

Oddy joined New Look in 2019 and during his tenure he led New Look’s financial restructuring, steered the business through the pandemic, and oversaw the company’s subsequent return to profitability.

Oddy said: “With the business having successfully come through Covid and with a solid platform now in place for future growth, this is the right moment for me to step down as chief executive. I am hugely proud of how this business and its people have pulled together over the past three years, and I have no doubt that all our New Look colleagues will achieve great success in the years ahead.”

New Look said the process to identify his successor is currently well-advanced, and the board expects to make a further announcement in due course.

New Look’s chairman, Mike Coupe said: “I would like to thank Nigel for his hard work and leadership over the past three years. He has been instrumental in ensuring that New Look is on the firm footing it is today and he leaves the business with strengthened operational foundations in place. On behalf of the board, I would like to wish him every future success.”

Earlier this year, New Look updated its Sustainability Strategy, and has committed to being climate positive by 2040 and halving the greenhouse gas (GHG) emissions from its products by 2030.