Americana boss McGuigan leaves
THE boss of Americana, owner of the fashion label Bench, Peter McGuigan, has left the private equity -owned business, it emerged today.
Mr McGuigan, who owns Morecambe FC, is on six months’ garden leave, sources close to the Manchester company, told TheBusinessDesk.com.
He left sportswear brand Umbro- where he led a dramatic turnaround – in 2007 to join Americana, where he has led the successful international roll-out of the business, particularly in Germany and Canada.
It is understood that he has been replaced on an interim basis by Paul Masters, who he recruited from Umbro.
A source told TheBusinessDesk.com :”Peter had been looking to negotiate his exit for several months, but couldn’t agree with the owners (Hg Capital), so he resigned.”
TheBusinessDesk.com understands, that despite some recent reports, there is no active process to sell Americana, with trading – after a good performance last year – softening over the last six months.
