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New Look MD steps down following profit loss

The managing director of fashion retailer New Look has departed the company after five years in the position.

This follows the news of the fashion retailer reporting a pre-tax loss of £123.5m for the past nine months.

Barrasso’s departure is effective immediately from 9 February, and the retailer announced a number of other changes to its management structure.

Sven Gaede, managing director international, will be leaving after three years and Mark Axon will be rejoining the company as retail director for UK & ROI effective 19 February. He previously worked for the brand between 2012 and 2014.

The current retail director, Russell Harrison will become finance director reporting to Richard Collyer.

Alistair McGeorge, executive chairman, said: “On behalf of the board and our colleagues, I would like to thank Danny for the significant contribution he has made during his five years at New Look. We wish him well for the future.

“We look forward to welcoming Mark back to the business. Mark brings a wealth of retail expertise and his prior experience at the company will be valuable as we rebuild our position within the UK market.”

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