Ex-Sainsbury's boss Coupe to become non-exec chairman at New Look
New Look has named Mike Coupe as its Non-Executive Chairman, succeeding Alistair McGeorge who’s been in the chairman’s seat during a particularly turbulent time for the company. Coupe joins on 29 September.
He was formerly CEO of Sainsbury’s during the period in which it ramped up its Tu Clothing offer to make it a major UK fashion retailer.
He held that role for over six years until 2020, and as well as growing Tu, he also oversaw the the successful acquisitions of Home Retail Group (the former parent company of Argos and Habitat) and Nectar. He’s also currently Non-Executive Chairman of Oak Furnitureland and Harding Retail.
McGeorge had returned to New Look in 2017 to begin the company’s turnaround strategy but stepped back from day-to-day operations to his current role in January 2020, following the appointment of Nigel Oddy as CEO.
At that time they didn’t know what was ahead, but they’ve worked closely together in the past 18 months to get New Look through the Covid crisis, a period that included a CVA and recapitalisation, which the company said “has established a firm foundation for future growth”.
McGeorge said the business is “in a remarkably better position now than it was when I returned to it in 2017. This is fundamentally due to decisive actions taken to restructure the business operationally and financially, and to recover the broad appeal fashion and great value that New Look is known for, which has been led by Nigel and his team”.
And Coupe said it “has a significant opportunity to capitalise on through its omnichannel model and loyal customer base. I am looking forward to working closely with Nigel and the rest of his team to deliver long-term and sustainable growth”.
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