New Look CEO to step down from high street fashion chain
The CEO of New Look, Nigel Oddy, will step down from the helm of the high street fashion chain.
The retailer said a hunt to select a successor was “currently well-advanced”, with a further announcement to come in due course.
Oddy navigated the company through two Company Voluntary Arrangement (CVA) restructuring processes and shuttered 39 stores, after being promoted from chief operating office to top boss in 2019.
While New Look was hit hard by high street closures amid the pandemic, it has returned to profit this year.
“With the business having successfully come through Covid and with a solid platform now in place for future growth, this is the right moment for me to step down as chief executive,” Oddy said.
Mike Coupe, chairman of New Look, said: “I would like to thank Nigel for his hard work and leadership over the past three years.
“He has been instrumental in ensuring that New Look is on the firm footing it is today and he leaves the business with strengthened operational foundations in place.
With a portfolio of some 400 stores across the UK, the high street retailer has enjoyed a return of shoppers looking for party and holiday outfits.
However, there has been concern across the high street that consumers will pull back amid historic inflation.