New Look appoints ex-House of Fraser boss as CEO
New Look has appointed former House of Fraser boss Nigel Oddy as chief executive, filling the top job for the first time in more than two years.
Oddy, who joined the retailer as chief operating officer in April this year, will take on the role from the beginning of January 2020.
Read more: New Look losses shrink despite dip in sales
Alistair McGeorge, who has been leading the firm as executive chairman since November 2017 when ex-chief executive Anders Kristiansen stepped down, will become non-executive chairman, the company announced today.
The move comes after the completion of a financial restructuring and the launch of a customer strategy review as the retailer continues with its transformation plan.
Last month the high street brand reported shrinking losses of £11.2m in the first half of the year, compared to a loss of £41.9 in 2018.
In its financial filings the company said it had reduced the product options available in store by 25 per cent and by 32 per cent online in a bid to enhance customer experience.
It also announced plans to revive its investment programme in smaller profitable stores.
McGeorge said: “With the financial restructuring and customer strategy review complete, and as we focus on our retailing excellence, now is the right time for Nigel to become New Look’s CEO and for me to assume a non-executive role in my capacity as chairman.
“New Look is a great brand with an exciting future and I look forward to continuing to support, encourage and challenge Nigel and the wider team.
Read more: House of Fraser accused of reversing fur ban
“Nigel has been running the business operationally since he joined us and in a short space of time has made significant improvements to our buying, product, supply chain and omnichannel offer.
“As I have said before, his experience will be a great asset as we continue our transformation, which I am confident we are well positioned to deliver.”
Main image credit: Getty