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Clothing retailer Superdry has announced that its founder Julian Dunkerton has been appointed to the role of CEO on a permanent basis until April 2021.
The news comes after Dunkerton returned as interim CEO on the 2 April 2019, after he won the support of 51.15% of its shareholders to rejoin the business, following a long dispute with its executive board resulting in chairman Peter Bamford, chief executive Euan Sutherland, chief financial officer Ed Barker, and chairman of the remuneration committee Penny Hughes all stepping down with immediate effect.
Superdry said Dunkerton has agreed to continue in the role to oversee the delivery of his vision to restore the brand to its “design-led roots and lead the business to sustainable growth”. It added that the announcement reflects the board’s “unanimous view that he is the right person to lead the business through this initial crucial phase of the turnaround”.
The board of Superdry’s Nomination Committee will continue the process to find a long-term CEO successor.
Peter Williams, chairman of the board of Superdry, said: “The board is delighted that Julian has agreed to continue in the role as CEO through to April 2021. Julian has a clear vision and his creativity, ambition and leadership will be crucial for the turnaround of the business.
“As interim CEO, Julian has already been working closely with the team to execute this plan and while much remains to be done, the necessary foundations are being laid. I am looking forward to working alongside Julian during this period as we seek to identify his long-term successor.”
Dunkerton added: “I’m pleased that the board has asked me to continue in the CEO role for this important phase of the turnaround. Since I have returned to the business full-time, I have been working with the team to put in place the plan that will turn around Superdry, with a focus on its design-led roots and strengthening the retail basics.
“We are already seeing early signs of progress and while this will take time, we are excited to realise the brand’s full potential. As CEO I am fully committed to working with the Board and everyone in the business to deliver this change over the months ahead.”
