Frasers Group fashion chief executive Greg Pateras has confirmed he will step down from his role following his appointment less than a year ago.
Pateras was named as fashion boss at Frasers last August when it was reported he had taken on a “dual role”, which included overseeing the group’s recently acquired fashion brands Missguided and I Saw It First.
During his time at Frasers, Pateras focused on the repositioning of both Missguided and I Saw It First to “put them into a profitable position”, as well as migrating the businesses into a new head office and “significantly reducing overheads” by merging the two brands.
He was previously chief executive at I Saw It First and formerly led the digital turnaround at Matalan where he held the roles of chief operating officer and deputy chief executive.
In a LinkedIn post, Pateras thanked the team at Frasers as he announced his departure: “My last day, and just wanted to say thank you to all my colleagues who have given me everything over the last few years!
“We have achieved so much! A sale, restructuring and a merger! Whilst we have known this day is coming, it’s always emotional to say goodbye to a talented bunch who have given me so much.
“Thank you again. I wish you all the best in the future. I’m sure our paths will cross again at some point! Take care and believe in yourselves!”
The announcement comes as Frasers Group continues its momentum with regards to acquisitions, having increased its stake in Asos to 10.6% for the third time in two weeks.
Mike Ashley’s retail group also bought a 19% stake in online electricals retailer AO World earlier this week.
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