New Superdry CFO Barker comes on board
Superdry has been in the news lately following the decision of one of its founders to step back from the business. And while its latest release might not be as headline grabbing as that story, a start date for its new chief financial officer is a key development for the company.
Following the Easter holiday, it said on Tuesday that Ed Barker is to join the company in the middle of this month as CFO Designate.
This follows the decision of the current CFO, Nick Wharton, to step down, although he will remain with the business and on the board until July 16. Superdry said that by the time Wharton leaves, Barker “will have completed a full induction and handover programme”.
The new CFO is joining the board is a time when the company share price has been heading downwards. But that's not a sign that Superdry is in trouble. Rather, the shares fell in late March after co-founder Julian Dunkerton said he was leaving the business and donating a big chunk of shares to charity.
Dunkerton will be focusing on other business interests as well as charity and the departure of anyone who has held such crucial roles in a company’s development - from business to creative - is always going to spook investors, with a share price dip being an unsurprising outcome.
But Barker has strong experience in UK retail. He has been director of group finance, and previously interim chief financial officer, at J Sainsbury, the supermarkets giant that's also a major fashion retailer in Britain.
Announcing his appointment earlier this year, Superdry CEO Euan Sutherland said: “He has strong experience of building brands and leading in competitive multi-channel businesses through his previous roles at Sainsbury and Burberry."
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