Jigsaw chairman & interim CEO step down

1484
Jigsaw CEO
// Interim CEO Chris Stephenson steps down after just 6 months in the role
// Chairman Charles Atterton resigning
// Group HR director Toby Foreman to step in as interim CEO
// News follows 6.3% like-for-likes sales increase for 10 weeks to December 22

Jigsaw’s leadership is poised for a major reshuffle after the chairman and interim chief executive both announced they would be stepping down.

Interim chief executive Chris Stephenson is stepping down after just six months in the role, with Drapers reporting that he is moving into a non-executive position at the fashion retailer.

Stephenson was first appointed to the role to replace Peter Ruis, who quit Jigsaw last March to join Anthropologie.

Following Ruis’ departure, Jigsaw received an investor payment of £20 million in order to protect itself from being added to the growing list of high-street casualties going down the path of CVAs or administrations.

According to Drapers, group HR director Toby Foreman will replace Stephenson as interim chief executive, with the retailer’s current team of senior directors reporting to him and to the Jigsaw board and shareholders.

Meanwhile, chairman Charles Atterton is retiring after more than 20 years at Jigsaw in various roles.

A new chairman to replace Atterton has not yet been revealed.

The news comes as Jigsaw’s UK like-for-like sales for the 10 week period ending December 22 increased 6.3 per cent year-on-year.

It added that like-for-like bricks-and-mortar sales increased six per cent while online sales grew 17 per cent year-on-year.

Click here to sign up to Retail Gazette‘s free daily email newsletter