Cursed fashion and homewares chain admits losing its second head in two months
Laura Ashley chief executive officer Ainum Mohd-Saaid has resigned. She will be replaced by Lillian Tan, presently a non-executive director on the retailer's board. Mohd-Saaid has resigned for personal reasons, the retailer said. Her departure follows the recent resignation of joint chief executive Rebecca Navarednam last November.

Tan was previously chief executive of Malaysian department store and fashion group Matrojaya Berhad.

Analysts' reaction to the board change has been lukewarm. Numis's Iain McDonald noted that the resignation comes as Laura Ashley stores appear to be overstocked, with the retailer resorting to discounting early during the holiday period.

Seymour Pierce analyst Richard Ratner called the top job at Laura Ashley a revolving door. He said: 'We worry about the fact that the company keeps importing CEOs with no experience of UK retailing, as well as the lack of independent non-executives on the board.'

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