Coast managing director Margaret McDonald is to leave the occasionwear retailer with former Aurora Fashions chairman Derek Lovelock set to take over the day-to-day running of the business.
McDonald will officially leave the womenswear chain at the end of July, according to Retail Week’s sister magazine Drapers.
It is not yet clear what her next move will be, but it is understood she is relocating to the US with her family “to take up a new career opportunity”.
Lovelock will work alongside recently appointed deputy managing director Jo McWilliams and Pall Olafsson, chief financial officer.
There are no immediate plans to replace McDonald until Lovelock has assessed the needs of the newly independent management team.
Lovelock said: “Under Margaret’s leadership, Coast is starting to deliver its strategy of being the occasionwear specialist as evidenced by strong performance in the new flagship locations in Oxford Street, Trafford Centre and Leeds and supported by the online flagship and significant growth across Europe, Middle East and the US.
“Margaret leaves behind a strong senior team and we all wish her every success in this exciting new venture for her and her family.”