Debenhams chief executive steps down as reopening nears

Stefaan Vansteenkiste has stood down as chief executive of Debenhams

Debenhams’ chief executive Stefaan Vansteenkiste has stepped down as the department store group prepares for the next phase of its turnaround.

Vansteenkiste, whose move aside had already been signalled, will remain as a consultant to Debenhams advising chair Mark Gifford on its future strategy.

He joined Debenhams just under a year ago, bringing turnaround experience from restructuring specialist Alvarez & Marsal.

Gifford will continue to steer Debenhams, which collapsed into administration last month for the second time in a year as the coronavirus outbreak forced the closure of all its stores.

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