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Department store chain Fenwicks has announced that its CEO and non-executive chair are to exit the company.
Robbie Feather will step down as chief executive and be succeeded by John Edgar, an “experienced” retail executive who spent periods as chief financial officer of both Selfridges and Harrods. Most recently Edgar has been a senior adviser to Boston Consulting Group.
Additionally, Richard Pennycook, non-executive chairman, and Andy Doyle, non-executive chair of the Remuneration Committee will step down from the board.
Steve Barber, a current non-executive director, will become interim chairman. Barber is currently chair of Fenwick’s Audit Committee, he is an experienced non-executive director and chartered accountant (ICAEW).
According to the group, the changes outlined will “bring the family closer to the running of the business” as well as “slim down the board”, which it said is the right decision now and for the longer term in the “current climate”.
A Fenwick family spokesperson said: “We would like to thank Richard for his guidance during his time as chairman, and to thank Robbie for all his leadership and dedication in driving the most ambitious transformation in Fenwick’s history.
“We much appreciate Andy’s contribution to the Board also. This is an unprecedented time for the retail sector, and we are pleased to welcome John Edgar as Fenwick’s new chief executive. We look forward to working closely with John and the whole team to help guide Fenwick through this incredibly challenging time.”
