Footwear retailer Office’s chief executive quits after one year
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The chief executive of high street footwear retailer Office has stepped down after just a year in the role.
Lorenzo Moretti has resigned after joining the company in December last year from his role as Sonos vice president of global retail.
Read more: Office set to close up to half its 100 UK stores
He replaced former boss Brian McCluskey, who left the retailer after 15 years in the top job.
Chief operating officer Kerry Van der Merwe has stepped in as interim managing director with immediate effect, the company announced today.
Kerry has previously led the group’s finance, IT, HR and property operations, and prior to joining the company in 2016 was financial director of Johnson and Johnson in South Africa.
Michael Mark, chief executive of Office’s parent company Truworths, said: “The business is in strong hands under Kerry and her senior team’s leadership and they will continue to drive significant improvement and growth initiatives in Office in close collaboration with the many brands with whom we partner.”
In August it was reported that the shoe retailer was planning to close up to half of its 100 stores across the UK as their leases expire over the next few years.
Read more: Major UK high street chains close 6,000 stores in 2019
Sky News reported that the company had decided against launching a company voluntary arrangement (CVA), which have become increasingly prevalent among retailers seeking to offload stores and slash rents.
Research by the Centre for Retail Research recently found that major high street chains in the UK have closed almost 6,000 stores so far this year, as the industry continues to struggle with high overheads and slumping sales.
Main image credit: Getty