Ted Baker CFO leaves for Mulberry after 17 years

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Mulberry CFO Ted Baker Charles Anderson Neil Ritchie
Ted Baker's finance director leaves for Mulberry after 17 years of serving
// Ted Baker’s finance director leaves for Mulberry after 17 years in the role
// Charles Anderson will join office in October and will also join Mulberry’s board of directors
// He will replace Neil Ritchie, who stepped down in June this year

Ted Baker’s finance director Charles Anderson has resigned from his role of 17 years to join luxury retailer Mulberry as its new group finance director.

Anderson will join office in October and will also join Mulberry’s board of directors.

He will replace Neil Ritchie, who stepped down from Mulberry in June.

During his time at Ted Baker, Anderson played a role in developing and overseeing its global finance function.

He also focused on international expansion and systems transformation and oversaw its investor relations programme.

Prior to Ted Baker, Anderson held various finance positions at House of Fraser, NatWest and Carpetright.

“Charles’ experience of developing and overseeing a global finance function during a period of international expansion will be relevant as we grow Mulberry worldwide,” Mulberry chief executive Thierry Andretta said.

Ted Baker has faced a rollercoaster of a year after founder and chief executive Ray Kelvin left the business in March following allegations of sexual misconduct.

In June, the fashion retailer issued a profit warning, saying that as a result of “extremely difficult” trading conditions, heavy discounting and consumer uncertainty across key markets full-year profits were expected to be between £50 million to £60 million.

Meanwhile, Mulberry suffered a loss before tax of £5 million in the 53 weeks to 30 March, down from a profit of £6.9 million in 2018, amid a “challenging” UK market.

Revenue fell two per cent for the year to £166.3 million.

International sales increased seven per cent, but UK sales declined six per cent.

Adjusted profit before tax for the period crashed 87.5 per cent to £1 million.

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