Selfridges has lost its second finance chief in four months amid growing uncertainty over the luxury department store’s future ownership.
Preetha McCann is understood to have quit as the retailer’s chief financial officer earlier this month to take up a role elsewhere, The Telegraph reported.
McCann joined Selfridges from professional services group EY, and at the time of her appointment said she had been “tempted away by an offer that was too good to refuse”.
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McCann’s departure comes as Selfridges finds itself at the centre of an ownership battle following the collapse of its co-owner Signa.
The luxury department store is understood to have attracted interest from Saudi Arabia’s Public Investment Fund (PIF) and Gucci owner Kering.
However, a sale of Signa’s shares in the retailer is complicated due to the legal proceedings underway in Austria.
Selfridges was snapped up Signa and Thai firm Central in 2021 for £4bn, with the business split between an operating company and a property company.
Central moved to seize control of the operating business during the turmoil at Signa late last year, converting a £317m loan into a majority stake in the retailer.
Despite the move, Signa still owns 50% of the property company and holds around 35% in the operating company.
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