Harvey Nichols chief executive Manju Malhotra is stepping down from her role after less than three years in charge.
Malhotra will reportedly leave Harvey Nichols at the end of this year and staff at the department store retailer were informed about her departure yesterday, according to The Telegraph.
Malhotra’s plans to “enact significant changes at the company” are reportedly a cause of her “abrupt” departure, as reported by the newspaper.
Harvey Nichols owner Dickson Concepts is said to have opposed her plans as a result of the business operating well under its current strategy.
A spokesperson for Harvey Nichols told Retail Week that Malhotra made the decision to step down on “amicable terms”.
They added that she is working up until the end of the year to ensure everything goes “as smoothly as possible”.
Dickson Concepts, a Hong Kong-based luxury goods company founded by tycoon Sir Dickson Poon, acquired the retailer in 1991 from the Burton Group.
Harvey Nichols executive director Pearson Poon, son of Sir Dickson Poon, is set to replace Malhotra until a permanent replacement is appointed.
The luxury department store recently reported a 58% increase in group net sales to £191.7m for the 12 months to April 2, 2022, up from £121.3m in the previous year.
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