N Brown CEO Angela Spindler steps down

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N Brown CEO

N Brown Group is on the hunt for a new chief executive after it was revealed that Angela Spindler is set to end her five-year tenure at the fashion retailer.

Spindler will leave at the end of September with Steve Johnson, who heads N Brown’s financial services arm, to become interim chief executive.

N Brown chairman Matt Davies said: “We recognise that now is an appropriate time to search for a new leader who can take the business forward through the next phase of its development.”

The comes after the firm, which owns JD Williams and Simply Be, said in June that it would close all its 20 stores and move to online-only retail as a result of weak footfall.

The move put 270 jobs in doubt.

In addition, N Brown’s profits slumped last year after the retailer was forced to pay £40 million in compensation to customers over flawed insurance products.

The products, provided by a third-party underwriter, were sold to customers between 2006 and 2014.

Davies said Spindler has had to “contend with significant legacy issues and a challenging retail backdrop”.

Spindler said: “I have been incredibly proud to lead N Brown over the past five years and to work with such exceptionally talented people that make N Brown the great company that it is.

“Over the last five years we have undertaken a significant transformation across the business to support our online future which will form a strong foundation for the coming years.”

In its latest trading update for the 13 weeks to June 2, N Brown’s revenue from its retail brands fell 2.8 per cent.

JD Williams’ sales fell two per cent, while Simply Be and Jacamo’s sales rose by 9.3 per cent and two per cent respectively.

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