Reports have emerged that the managing director of retail and digital at Debenhams is set to leave the struggling department store retailer early next year.
Ross Clemmow, whose full job title is managing director of retail, digital, food and events, is moving on to become a managing director at private equity group Bridgepoint.
He first joined Debenhams in July 2013 and served as ecommerce director and retail director at the company before being appointed to his current role in October last year.
Debenhams has not yet announced a successor.
“We wish Ross the very best in his new role and will announce plans for his replacement in due course,” a Debenhams spokeswoman said.
Clemmow’s resignation comes a week after the department store announced a full-year loss of £491.5 million, the worst ever in its 240-year history, as well as plans to close down 50 of its 165 stores.
The move could lead to 4000 job losses over the next three to five years.
Last week’s trading update followed three profit warnings due to poor trading and weak consumer confidence.
The retailer is still pushing forward with its Debenhams Redesigned turnaround strategy on a reduced budget.
Nonetheless, investors seemed keen to hear details on Debenhams’ plans surviving the next few years, with shares rallying by around 15 per cent shortly after the record loss was revealed.