C&A chairman Allan Leighton is reportedly planning to “turnaround” the 179-year-old clothing retailer, by making the company independent of its founders the Brenninkmeijer family.
According to the Financial Times (FT), the group’s current CEO, Edward Brenninkmeijer, is set to leave his seat as CEO Europe and overall CEO for a position in the company’s board of directors.
In his place, Leighton has brought in Ginny Boer, who previously worked for Ikea, to act as external chief executive and run its European operations. She will assume the position next January, with Brenninkmeijer becoming a non-executive director.
Following her appointment, Eric Brenninkmeijer will be the last remaining family director of the group’s main training entity.
Leighton told the FT: “The goal is to make it independent of the family. It is family-owned but not family-run or family controlled. The old rule book no longer exists. Family members working within the business are now on the same contract terms as any other executive.”
“The business has not performed for 10 years but over the last 12-18 months the team has done a great job of stabilising it and putting the basics back in place. There is a chance for this to be one of the great turnarounds.”
The retailer initially exited the UK in 2001, but continues to operate over 1,400 sites across Europe.