House of Fraser has announced that its CEO John King has stepped down from his position after eight years with the company. Nigel Oddy, the current Chief Operating Officer has been named as his successor.
The company will ensure a ‘smooth transition’ as King chooses to stay with the British department store chain, in his new role as Non-Executive Director, ensuring strategic business development. King will welcome the change as he pays homage to the company he has worked with for eight and a half years. He cited that it has been an honour to “work with such a talented team of colleagues and partners. I am extremely pleased with everything we have achieved as a team”. House of Fraser’s Christmas and January 2015 success has allowed King to leave his position on a high, leaving Oddy with some rather large shoes to fill.
Oddy will look to work on John’s strategy to drive international expansion and to continue investing in the ‘stores, brands and multichannel offering’. He brings 35 years of experience to the new role, alongside holding past positions in senior roles for Marks & Spencer. He is looking forward to the change and the company’s plans to expand in China with three stores set to open over the next two years stating that it’s “a real privilege to be appointed to lead such a strong multi-channel business and team of people”.