Superdry adds two new board members
today Jul 26, 2019
Superdry said on Friday it has appointed two more directors to its board, stating it has now “the right” team to support Julian Dunkerton’s turnaround plan.
Georgina Harvey and Faisal Galaria are joining the clothing retailer’s board of directors, effective immediately. Harvey will also become chairman of the remuneration committee.
It follows the appointment of two experienced figures, the former M&S finance head Helen Weir and ex-New Look finance chief Alastair Miller, to the board three weeks ago.
Georgina Harvey is an experienced non-executive director, currently serving as senior independent director and chair of the remuneration committee of McColls Retail Group. She also sits on the boards of William Hill and Big Yellow, and chairs the remuneration committees of both companies.
Faisal Galaria, who recently stepped down as chief strategy and investment officer of Gocompare Group, brings extensive digitale expertise. He has held senior roles at a number of leading global digital businesses including Spotify, Kayak.com and Skype, and built the European Digital and Media practices of the advisory firm Alvarez & Marsal.
Peter Williams, chairman, said: “I am delighted to announce the appointment of these two outstanding individuals, who will prove strong additions to the Superdry board. Georgina is a highly experienced non-executive director and remuneration committee chairman, while Faisal brings world-class digital expertise to the board, skills which I believe will be of huge benefit to the business.
“Along with the appointments of Helen Weir and Alastair Miller announced earlier this month, we now have the right board to support the business as we set out to reinvigorate the Superdry brand and improve the financial performance of the company.”
Superdry has had a tumultuous year, but since the return of founder Julian Dunkerton in April following a shareholder vote, the company has been focusing on re-establishing its “strong brand identity”.
Plans for a new childrenswear range have been abandoned, more stock has been put on the shop floor at flagship stores and promotions have been cut back to protect profit margins.
The retailer announced an £85.4 million loss before tax for the year ended 27 April 2019, but Dunkerton said earlier this month that the initiatives are gaining some early traction.
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