Jun 21, 2016
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Shoe Zone CFO Nick Davis to become CEO

Jun 21, 2016

UK value footwear retailer Shoe Zone announced several changes to its Board of Directors on Tuesday. Among others, the company said CEO Anthony Smith is to move to the role of Executive Chairman, while current CFO Nick Davis will take up the role of Chief Executive Officer, effective immediately.

Shoe Zone

Anthony Smith has led Shoe Zone for 20 years, through a series of acquisitions and the company’s IPO in 2014. He will take over from Ian Filby, non-executive chairman, who will be stepping down to enable the move. Anthony will continue to have a hands-on role in the company and will have particular responsibility for the property portfolio and strategy.

Shoe Zone’s new CEO, Nick Davis, will continue to manage the finance function until a new head of finance is appointed, said the retailer.

Additionally, Jeremy Sharman will become Non-Executive Deputy Chairman.

Earlier this month, the retailer said revenue for the first six months of the year dropped to £74.6m versus £78.2m in prior year’s period, reflecting the impact of the closure of 23 loss making and temporary stores.

The company is mid-way through a store rationalisation programme to improve profitability.

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