The chairman of听listed听retailer N Brown is to step down at the end of March.听
The Manchester-headquartered听eCommerce company said听Matt Davies听is to leave the role to听spend more time on his other business activities.听
Davies also serves as chair of听limited companies听Travel Counsellors听and听Hobbycraft Group.听
In January, fashion group N Brown reported an 8.8 per cent drop in revenue for the听18 weeks to 2nd January.听
Sales of听its听core brands听including听JD Williams and Jacamo fell 1.4%听while听revenue from other brands such as Premier Man and High & Mighty fell 26.1%.听
The firm said it had suffered from stock delays due to a shortage of shipping containers.听
A former chief executive of Tesco UK, Davies joined N Brown in 2018, having been听replaced at the supermarket giant by Booker CEO Charles Wilson a year听after its 拢3.7 billion merger.听
Still in his 40s, Davies听served as CEO of Pets at Home from 2004-2012 and听Halfords from 2012-2015.听
鈥淭he board would like to thank Matt for his contribution over the past three years and for guiding the business through a successful refinancing and transfer to AIM,鈥� N Brown 鈥� which runs Simply Be, Jacamo and JD Williams听鈥撎齭aid in a statement.听
He will be succeeded as chairman by听Ron McMillan, who听will relinquish his roles as听a听senior听independent听director and听audit听committee听chair of N Brown.听
McMillan听is currently听a听senior听independent听director听at听B&M and SCS Group,听while he is also on the board of听Homeserve.听
Gill Barr will succeed听him听as the听senior听independent听director听while an additional non-executive director will be recruited.