Superdry co-founder Julian Dunkerton to depart

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Superdry co-founder Julian Dunkerton

Superdry co-founder Julian Dunkerton is poised to exit the fashion retailer to devote more time to his other business and charitable interests.

Dunkerton, who was chief executive of the firm up until 2014, has informed the board and will be stepping down from his position as director with effect from March 31.

His role in relation to product and brand will be continued by the creative teams that he helped Superdry to establish.

“I am immensely proud of everything achieved at Superdry over the past 15 years,” Dunkerton said in a statement.

“As a fast-growing, innovative business, Superdry has always evolved to ensure it keeps delivering.

“With other demands on my time it is the right point for me to transition my focus and responsibilities.”

The news comes two months after Dunkerton made £17.8 million by selling the equivalent of a 1.23 per cent stake in Superdry, retaining 25.36 per cent of shares.

Superdry said in a separate statement this morning that Dunkerton will transfer ordinary shares of up to £1.2 million as a personal donation to The Blue Marine Foundation, a charity focusing on overfishing and biodiversity.

Superdry chairman Peter Bamford said: “With Superdry embarking on the next phase of its ambitious growth plans, and with other interests and opportunities available to him, Julian and I have been talking for some time about the right time for him to move on from the business.

“I have enjoyed working closely with him over the last eight years and, on behalf of the board, I would like to thank Julian for his outstanding contribution in building Superdry into such a great brand.”

Superdry will publish its fourth quarter trading, including the key Easter period, and its full year pre-close trading update May 10.

When the retailer reported its interim results in January, it was confident in delivering full year underlying profit before tax in line with analyst expectations of £97.7 million to £100.6 million.

Dunkerton co-founded Superdry with designer James Holder in 2003.

The brand was originally sold in Cult Clothing, a retail business founded by Dunkerton and a former business partner in Cheltenham in 1985.

The first standalone Superdry store was launched in 2004 and in March 2010 the business undertook a successful flotation on the London Stock Exchange.

Dunketon was succeeded by Euan Sutherland as chief executive in 2014.

Superdry currently operates in 55 countries and employs almost 5000 people globally.

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