New Look has reconfigured the makeup of its senior leadership team, appointing Nigel Oddy as its new chief executive as well as naming a new non-executive chair.
The fashion retailer announced today that Nigel Oddy will take the top job on January 1, having joined the business as chief operating officer in April.
It also said Alistair McGeorge will take up the non-executive chair role on the same day, having been executive chair since November 2017.
Oddy joined New Look from The Range, where he was chief executive for just over a year. Prior to his stint at the value business, Oddy was at House of Fraser for a decade, including the last two years as chief executive.
Oddy said: “I am delighted to be appointed chief executive at such a pivotal moment in New Look’s development. Since joining the business earlier this year, we have focused on strengthening our operational foundations.
“We have already taken decisive steps to broaden the appeal of our product, enhance the customer journey and improve our lead times. Following the successful financial restructuring, we have also been able to strengthen our leadership and begin to invest prudently in the business again.”
The retailer has spent much of the year ploughing ahead with a turnaround plan it first launched through a company voluntary arrangement in 2018. The CVA shut up to 60 stores, and the retailer subsequently agreed on a debt-for-equity swap with key stakeholders earlier in this year to shore up its balance sheet.
New Look has also been reviewing its presence in international markets – including closing 120 stores in China and filing for bankruptcy in both Belgium and Poland.
No comments yet