N Brown chairman Andy Higginson has announced his imminent departure from the company, as he opts to pursue opportunities in private equity.
Following a five-year stint at the retail group, which owns JD Williams, Jacamo and Simply Be, Higginson will remain at N Brown until a replacement is found. The search is reportedly already underway.
Prior to his appointment at N Brown, he enjoyed a successful career acting as finance director for Laura Ashley Holdings and the Burton Group. He then went to join Tesco as finance and strategy director before joining Poundland as non-executive chairman.
According to Higginson, who also acts as chairman to grocery giant Morrisons, he wishes to secure more time for private equity endeavours.
“Andy has led the group during a period of significant transformation and his dedication and insight have made a significant contribution to this process,” N Brown chief executive Angela Spindler stated.
Higginson added: “It has been a privilege to chair the company through a period of transformation to a digital business. Angela has established a strong and capable team, the benefits of which are now visible.”