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N Brown Group chairman to step down

The board said it would like to thank Matt Davies for his contribution over the past three years and for guiding the business through a ‘successful refinancing’ and transfer to AIM

N Brown Group has announced that Matt Davies will step down as chairman with effect from 31 March 2021 to spend more time on his other business activities.

The board said it would like to thank Davies for his contribution over the past three years and for guiding the business through a “successful refinancing” and transfer to AIM.

Ron McMillan will relinquish his roles and will succeed Davies as chairman. He is currently audit committee chair and senior independent director of B&M European value retail SA and SCS Group Plc, and audit committee chair of Homeserve.

Gill Barr will succeed McMilan as the senior independent director.

On an interim basis, the company revealed that Vicky Mitchell will assume the audit committee chair role. She currently chairs the financial services board and has been a member of the audit committee since January 2020.

A recruitment process is reportedly underway for an additional independent non-executive director who will become the permanent audit committee chair.

Following these changes, and prior to the appointment of an additional independent non-executive director, the board claimed it will comprise the chair (who is independent on appointment), the group CEO and CFO and seven non-executive directors, five of whom are considered to be independent.

N Brown’s retail brands comprise JD Williams, Simply Be, Ambrose Wilson, Jacamo and Home Essentials. The group is headquartered in Manchester and employs over 2,000 people across the UK.

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