Online retailer appoints new chief executive

Jacamo

Online retailer N Brown has appointed Steve Johnson as chief executive with immediate effect.

Steve was appointed interim chief executive in September 2018 having previously acted as chief executive of financial services for the group.

Last October the retailer reported half year losses and a 50% cut in its dividend as it admitted the switch to an ecommerce model was taking longer than predicted.

The Manchester-based group, which includes the ‘power brand’ JD Williams, Simply Be and Jacamo businesses, saw revenues rise by one per cent in the six months to September 1, to £457.8m.

But increased exceptional charges of £65.4m, including the cost of closing stores, compared with exceptional costs of £54.9m last year, resulted in a statutory pre-tax loss of £27.1m, compared with a £27.6m loss a year ago.

The former chief executive Angela Spindler stepped down in September 2018.

Chairman Matt Davies said: “Having conducted a thorough and extensive search process, the board is delighted to appoint Steve as chief executive.

“As interim chief executive he has shown the strategic thinking, pace, energy and focus which demonstrates that he is the best person to take the business forward. He brings a wealth of senior management experience across a number of large retail and financial services companies.”

Steve Johnson said: “I am both excited and honoured to be taking the permanent chief executive role at N Brown.

“During the last six months I have had the opportunity to lead a passionate, talented and committed team. Together, we have made considerable operational and strategic progress which we look forward to building on.”

Steve Johnson was appointed interim chief executive of N Brown in September 2018 having joined the group as financial services director in February 2016.

He joined N Brown from Shop Direct Group Limited where he was financial services marketing and product director for four years and prior to that held senior roles at Sainsbury’s and Halifax.

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