N Brown CEO quits, names interim replacement

Struggling N Brown said Wednesday that its CEO Angela Spindler is leaving the company at the end of this month and we have to assume that the departure is linked to performance because of the speed with which it’s happening and the fact that the firm has no permanent replacement lined up as yet.

The Simply Be owner said it would now “commence the search for a new chief executive” and that Steve Johnson who is currently CEO of the firm’s Financial Services business will assume the role of interim group CEO until a new top executive is appointed. There was no hint as to whether Johnson might be handed the role permanently, nor whether he would want to take it on.

Chairman Matt Davies said of the surprise announcement: “We recognise that now is an appropriate time to search for a new leader who can take the business forward through the next phase of its development.”

But there is still plenty of goodwill between all the parties involved. Davies added: “I would like to thank Angela for her significant contribution as CEO. Angela has led the business with passion, energy and a relentless focus on building on the group’s industry-leading fit specialism, as well as building N  Brown’s online capability and expertise.”

And he also said that “she has had to contend with significant legacy issues and a challenging retail backdrop and has brought her great personal qualities and values to the way she has led our business.” He also wished her well for the future.

Spindler has led the firm for five years and said the work that has been done “will form a strong foundation for the coming years,” also wishing the business and her temporary successor well.

The group is due to report its latest set of figures soon, but its last report didn’t make happy reading back in the summer. The 13 weeks up to June 2 saw group revenue up only 0.4% and product revenue fell by 2.8%. A 9% rise in its financial services revenue helped its bottom line, but it’s clear that times are tough and the firm is battling to turn itself around in what’s a very difficult period for retail overall.

McArthurGlen names Susie McCabe deputy CEO

McArthurGlen Group, the owner of designer outlet villages in Europe and North America, has poached a retail heavyweight from Under Armour for the newly-created position of deputy CEO.

Susie McCabe will be joining the group from Under Armour, where she was senior vice president of global retail for the past four years. In this role, she was responsible for creating and implementing all aspects of the sportswear company’s worldwide retail strategy, overseeing store openings in 30 new countries. The US brand more than doubled its retail revenues during her tenure.

Prior to that, she spent 16 years at Ralph Lauren Corporation, holding a number of senior roles including president of factory store concepts, where she led the strategic director and operation of the brand’s outlet stores in the US and Europe.

She also held senior positions in Ralph Lauren’s full price business, and chaired the Ralph Lauren Corporation0s Retail Diversity Council for nine years.

In her new role, McCabe will report to McArthurGlen chairman Joey Kaempfer, and CEO Julia Calabrese.

Kaempfer said: “Julia and I are delighted to welcome Susie to McArthurGlen to support us and the team in this newly-created position.  Her extensive retail and management experience and her deep knowledge of satisfying the customer will be invaluable as we continue to drive growth, primarily by focusing on the experience of our guests and our brand partners.”

McCabe added: “I have worked closely with McArthurGlen from the position of a brand partner for many years.  They are the best management team in the outlet business and I am thrilled to be joining them.”

McArthurGlen’s portfolio includes Ashford Designer Outlet outside London, Cheshire Oaks Designer Outlet outside Liverpool and York Designer Outlet, which are home to luxury brands such as Polo Ralph Lauren, Burberry, Michael Kors, Coach, Guess and Tommy Hilfiger.

Source: fashionnetwork.com