The number of new female retail CEOs appointed in the UK halved last year, at a time when the number of chief executive hires as a whole also dropped.

Only six female retail CEOs were appointed during 2024, according to management consultant Korn Ferry’s UK CEO Tracker 2025 study.

Just 22 retail CEO hires were made in the UK as a whole, marking a drop of 20% on the previous year and continuing what the consultancy described as a serial decline in the overall number of CEO hire in the sector over the last decade.

Korn Ferry managing director, board and CEO services EMEA, Sarah Lim said: “Barring the COVID year; 2024 saw the lowest number of retail CEO appointments in a decade.

“This reflects the longitudinal contraction of the retail market in the UK, as more businesses have gone into distress over the last few years, with brands being acquired out of administration by larger players, or disappearing entirely.

“In addition, the drop in number of female retail CEO appointments over the last year is an unwelcome development, particularly given increasing efforts in the last few years to promote greater boardroom diversity.”

The data also showed six CEO seats were currently occupied by turnaround or interim executive chairs, or interim CEOs.

Despite the reduction in appointments, last year did see some big names drafted in as retail CEOs.

Paula Nickolds took over from Mary Homer as CEO of The White Company last January, while Dan Finley was promoted to chief executive of Boohoo in November.

Additionally, Burberry hired Joshua Schulman as its new CEO in July, and Lysa Hardy was promoted to chief executive of Hotel Chocolat in September.

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