The group chief executive of the South African parent company of British retailers Phase Eight, Whistles and Hobbs has announced his retirement.
Doug Murray, who has led The Foschini Group for 11 years, said he would retire on September 2.
Group chief financial officer Anthony Thunström will succeed Murray from September.
Murray has been the The Foschini Group for a total of 33 years, and during his time as chief executive he oversaw its turnover growth from
During his tenure Murray has grown TFG’s turnover from R7.2 billion (£437 million) to R23.5 billion (£1.4 billion) and its store estate grew from 1333 in three countries to 3900 in 32 countries.
He also oversaw The Foschini Group’s doubling of brands in its portfolio from 14 in 2007 to 28 in 2018.
The company acquired UK-based retailers Phase Eight in 2015, Whistles in 2016 and Hobbs just last year.