Coast chief executive Kate Bostock has stood down from the role and the retailer will now be led by Andrew Skinner, Retail Week can reveal.
Bostock, who joined the women’s occasionwear retailer two years ago, will remain a consultant to Coast but also wants to build Angel & Rocket, the children’s brand she launched last year.
Bostock told Retail Week she has accomplished her objectives upon joining Coast by building a team – including her successor, former M&S colleague Skinner – focusing on product and improving trading.
She said she would remain a mentor to Skinner and be involved in product and brand direction as well as overseeing relationships with Coast’s retail partners, including retailers such as Next and Shop Direct.
Bostock said: “Coast is at the heart of my consultancy plans, big time. I also want to do something that’s my own business. I started Angel & Rocket and it’s doing brilliantly.”
Angel & Rocket is sold online and in Middle Eastern stores through partner Alshaya. Bostock is in discussions about selling it through UK department stores.
However Bostock said there was no connection between the two developments. Asked why she had not bought Coast she said: “The simple answer is it’s not been for sale.
“When I joined it was in a poor trading position. We’re now in a very strong trading position. We’ve turned the corner and I’m still going to be part of its journey.”
Bostock has held some of the highest-profile roles in fashion retail, including at Marks & Spencer, George at Asda and Next.