British department store Debenhams has announced the appointment of Amazon’s European Fashion Vice President Sergio Bucher as its new Chief Executive.
Following three years in his current role at Amazon, Bucher will take on the new role in October. Prior to this Debenhams’ new CEO held roles including General Manager of Retail and Ecommerce Worldwide at Puma and roles at Nike and Inditex.
The chain’s current CEO Michael Sharp reported his resignation in October and confirmed in April that he will depart from the board on 24 June.
"Following a rigorous recruitment process with some exceptional quality candidates, Sergio's wealth of e-commerce expertise, international experience and clear leadership qualities stood out” said Chairman Sir Ian Cheshire.
"I am confident we have the best possible person to realise the potential of 'new Debenhams' as a leading international multi-channel retailer with a bright future."
"I am excited to be joining Debenhams, with its strong UK heritage, a growing international presence and a track record of supporting and developing brands and designers” Bucher added.
"I look forward to working with its experienced and talented team to take Debenhams forward to an exciting new future."
While Debenhams has suffered from a period of continued losses, it beat expectations at Christmas, increasing by 3.5% like-for-like and saw online sales soar by 12.1 with increased click and collect orders.
Debenhams’ share price rose this morning as it looks on to a brighter future.