New Look operations boss to depart
New Look’s managing director of group operations Dan Monaghan is to leave his role later this year as the retailer takes steps to streamline its top management structure.
Steve Challes, group business development director at New Look will also retire, a source close to the business told Retail Week.
Monaghan has been with New Look for over 14 years, rising from logistics controller to group logistics director before becoming managing director of group operations in December 2015. He is responsible for the fashion company’s logistics and supply chain, as well as the Chinese business.
His departure was part decided by executive chair Alistair McGeorge, Retail Week reported.
The UK fashion firm is looking to streamline its corporate structure as part of its ongoing turnaround programme. In its latest trading update the retailer revealed an improvement in like-for-like sales and a return to profitability, but the company was forced to hand over control of the business to its creditors in January to restore its profitability. The debt-for-equity swap with key stakeholders reduced New Look’s long-term debt by £1bn to £350m.
Earlier this month, former House of Fraser boss Nigel Oddy joined New Look as chief operating officer.
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