// Matalan CEO Jason Hargreaves to step down next week after 7 years at the helm
// He will remain with the family business by providing strategic counsel to the board
// Steve Johnson, who recently replaced John Mills as chairman, will lead the board as executive chair from next week
Matalan chief executive Jason Hargreaves is set to step down from the helm after seven years leading his family’s value retail business.
Hargreaves will still remain with the fashion and homewares chain but in a different capacity, as a strategic adviser for the board.
He is the Matalan owner John Hargreaves, who founded the retailer in 1985.
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Steve Johnson, who recently replaced John Mills as Matalan chairman, will lead the board as executive chairman from next week.
He will oversee the day-to-day operations of Matalan alongside chief commercial officer James Brown.
“After seven years at the helm, now is the right time for me to step down as the CEO into my new role,” Hargreaves said.
“Providing our customers with the best value product on fashion and home is our heartland, and re-establishing this under my leadership has been a huge achievement.
“The board under Steve’s leadership are now set up to continue this journey, and the recent addition of James Brown as our new chief commercial officer will provide the leadership on the trading floor to ensure we continue to grow from the strong base we have today.”
Johnson said: “We would like to sincerely thank Jason for his leadership during his time as our CEO.
“Since joining, I have been impressed by the culture that Jason has created, and we are delighted that he will continue to provide strategic counsel to us.
“His extensive knowledge, business relationships and experience will help to ensure the core family values remain embedded in the business.
“Over the past few years, Jason and the team have been successfully evolving the business and, despite the market challenges we are currently facing, we look to the future with confidence.”