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Hobbs chief executive exits amid senior overhaul

Hobbs chief executive, Meg Lustman, is to step down from her role at the women’s fashion retailer as its parent company TFG London undergoes a reshuffling of its senior staff.

Lustman, who joined the company in 2014, will depart her role in January. Following the seamless integration of the Hobbs brand onto the TFG London platform she has expressed desires to explore other roles in non-executive departments.

TFG acquired the retail chain in 2017 and also owns Whistles and Phase Eight. As part of the reshuffle, Helen Williamson, the brand director for Whistles will be promoted to managing director replacing Justin Hampshire who will move to the managing director role at Hobbs in January.

Simon Pickering, the fashion buying and merchandising director of House of Fraser has been appointed to replace Ben Barnett as Phase Eight’s CEO. Barnett is also the CEO of TFG.

TFG’s EBITDA for the first half of 2018 fell 7% to £13.7m as it had to write £2.5m off a House of Fraser debt during the department store’s decline. Aside from this, the company’s EBITDA was a record figure of £16.2m.

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