Last year, the City was bemoaning Debenhams’ prospects as its share price languished at an all-time low. However, the steadfast Templeman and his well-respected management team dug their heels in and stuck to their guns. Today, the retailer is on anupward trajectory.
The retailer’s focus on own-brand and its Designers at Debenhams ranges, reducing its concessions mix and wooing hot designers such as Henry Holland, is paying dividends. Templeman has also overseen a £323m share placing, taking debt off the balance sheet and leaving the retailer poised to make opportunistic acquisitions.
Templeman, who was tipped to leave the retailer last year, has found himself still at the helm in the midst of the credit crunch. Whether deputy chief executive Michael Sharp is being groomed as a successor or not, Templeman is unlikely to step down yet.