// New Look managing director of group operations Dan Monaghan to exit
// The retailer currently undergoing a management reshuffle
// Group business development director Steve Challes will also exit after 15 years
New Look’s managing director of group operations Dan Monaghan is reportedly stepping down as part of a senior management team restructure.
A source speaking to Retail Week said New Look’s executive chair Alistair McGeorge was partly responsible for the decision in Monaghan’s departure.
Monaghan has served at the fashion retailer for 14 years, working in logistics, supply chain, as well as running New Look’s Chinese business since 2015.
The exact date of his exit remains unknown.
Meanwhile, New Look’s group business development director Steve Challes is retiring from his role after 15 years, according to Retail Week.
The fashion retailer recently reappointed former House of Fraser boss Nigel Oddy as chief operating officer as it experiences a management reshuffle.
New Look launched a CVA last year which led to 60 store closures in the UK.
In January, it agreed a debt-for-equity swap with some of its key stakeholders, in hopes of slashing its long-term debt from £1.3 billion to £350 million.
It has also undergone a winding-down process of operations in China, France, Belgium and Poland.