There has been a revolving door in retail’s boardrooms with a swathe of CEOs exiting in recent months with Boohoo boss John Lyttle the latest to exit his post. Retail Gazette takes a look at some of the biggest CEO departures over the past few months.
John Lewis
John Lewis partnership CEO Nish Kankiwala left his position as CEO of the retailer earlier this month (October) as he reverted back to a non-executive role.
He took up the CEO position in March 2023 to help White with the day-to-day running of the supermarket and to “supercharge” its transformation.
The former non-executive said: “It’s been the privilege of my life to lead the Partnership as CEO during this period of intense transformation. I am hugely proud of what we’ve achieved so far – thanks to the hard work and dedication of our partners.
“I have every confidence in Jason taking the Partnership from strength to strength in the next phase of our transformation and am delighted to continue to support him and the board in an advisory capacity going forward.”
Selfridges
Selfridges CEO Andrew Keith exited the department store in July, after four years at the business.
Keith, who was promoted from managing director to CEO last year, reportedly left to “pursue new ventures”.
Newly appointed Selfridges Group CEO André Maeder, who joined in May, took over Keith’s responsibilities in the UK.
Commenting at the time, Keith said: “From my first day I have sought to build on its amazing reputation as a creative, inspiring destination where everyone is welcome.
“However, I feel that now is an appropriate time to leave the business and pursue new ventures. I am proud to be leaving Selfridges in such a strong position and to pass the baton to André to continue this journey with our great team.”
Matalan
Matalan CEO Jo Whitfield stepped down from the fashion brand this week after just over 18 months at the helm.
The business said Whitfield was leaving her role to “pursue a portfolio career”.
The executive, who previously served as the boss of Co-op Food, was named as chief executive of Matalan last year, having returned to the fashion brand after previously serving as its head of finance between 2002 and 2008.
Under her leadership, Matalan said it had made “significant progress” in its turnaround strategy including the reshuffling its top team and re-establishment of its “value credentials”.
The retailer’s chair Karl-Heinz Holland will act as executive chair until a successor is hired, while the search process for Whitfield’s replacement has reportedly already begun.
Asda
Asda co-owner Mohsin Issa stepped back from the helm of the supermarket in September, with chair Lord Rose taking over the running of the chain.
Issa departed to focus on his previously announced position as sole CEO of EG Group. However, he remains as a co-owner of the grocery giant as well as a non-executive.
Commenting at the time, Rose said: “We respect Mohsin’s decision to move on from his role at Asda where his work is complete to be the sole CEO of EG Group.
“We are very grateful to Mohsin for the role he has played in overseeing Asda, including launching into the growth market of convenience stores and introducing a loyalty app now used by more than six million customers.”
However, Rose had previously made clear his feelings that it was the right time for Issa to leave.
He said in August that he was “embarrassed” by the grocer’s performance and wanted Issa to step back.
The former M&S boss said: “I wouldn’t encourage him to [intervene in operations], and I am the chairman. We always said Mohsin was a particular horse for a particular course. He is a disrupter, an entrepreneur, he is an agitator.”
“We’ve added a significant number of stores and we’ve changed a lot but it now needs a different animal. In the nicest possible way, Mohsin’s work is largely complete.”
Hotel Chocolat
Hotel Chocolat promoted Lysa Hardy to CEO in September, as co-founder Angus Thirlwell moved to the role of president.
The move came after the brand agreed a takeover by confectionery giant Mars in November last year in a deal that valued it at £534m.
Hardy is credited with helping to double the size of the retailer’s UK business in five years, and created the Velvetiser Hot Chocolate category.
She was previously a non-executive at Superdry until July this year, and had held senior positions in Joules and Holland & Barrett.
Boots
In June, Boots revealed its boss Seb James would leave the beauty retailer after its owner, US giant Walgreens, shelved plans for a multibillion-pound sale for the second time.
James, who joined the high street health and beauty chain in 2018, is taken up a role in the healthcare industry as group CEO of Veonet, one of Europe’s largest chains of ophthalmology clinics.
Boots named Anthony Hemmerdinger, retail and operations director at the health and beauty giant since 2022, as James’ replacement last month. He will take his post in November.
It is unsurprising that Boots opted to hire from within as the health and beauty retailer has notched up 13 quarters of consecutive growth under the current team.
Burberry
Burberry replaced its former CEO Jonathan Akeroyd with ex-Michael Kors boss Joshua Schulman in July, with the move effective immediately.
Akeroyd stepped down from his role “by mutual agreement with the board,” as the luxury brand warned annual profits would fall short of expectations after first quarter sales fell by a fifth.
The fashion house is understood to be slashing hundreds of jobs under a cost-cutting programme after its full-year profits plunged 36% to £418m in the year to March 30.
Burberry said Schulman, who was the president of Bergdorf Goodman from 2015 to 2020, joined the business with a track record of driving transformative growth and value creation as CEO of global luxury, fashion, and retail businesses.
Schulman faces a big challenge ahead as Burberry tumbled out of the FTSE 100 last month as its share price fell to a 15-year low.
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