World Duty Free, the airport retailer, has revealed its chief executive Mark Riches is to stand down at the end of the year.
Riches has led the retailer for 10 years, through “consistent top and bottom line growth in spite of a series of challenges from 9/11 through to liquid bans and the recent Ash cloud”, according to World Duty Free parent Autogrill.
Riches will remain working with Autogrill as a consultant.
Autogrill group chief executive Gianmario Tondato Da Ruos said: “The business has been transformed under his leadership and has gained a reputation throughout Travel Retail for setting the benchmark for the industry through innovative product and shopping environment.
“At the same time attention to the real detail of “shopkeeping” was one of Mark’s trademarks combined with strategic clarity which enabled the business to become a champion for the brands.”
It is not known who will replace Riches.
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