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Matalan, the omnichannel retailer for families, has announced that Jo Whitfield, chief executive officer, has decided to step down from the business to pursue a portfolio career.
Under her leadership, the brand has made “significant” progress, rebuilding the top team and re-establishing its value credentials.
Karl-Heinz Holland, chair of the business, will now assume the role of executive chair until a successor is appointed. A process to identify a permanent successor is underway.
Regarding her departure, Whitfield said: “It has been a fast paced transformational 18 months, and I am proud of everything that the Matalan teams and I have achieved. We have reset the business foundations against a very challenging backdrop, have improved profitability in the first year and developed a strategy to take the business forward.
“We have fundamentally improved our product offering and re-established our reputation for providing great value and quality for customers. We have invested in colleague pay and established a new leadership and executive team to take the business forwards.”
She continued: “Now feels the right time to pass the baton as the next phase of the transformation continues. I am confident that Matalan will continue to thrive and I wish my colleagues and leadership team every success for the future.”
Holland added: “I want to thank Jo for her leadership of Matalan and wish her well for the future. She has led the team that has stabilised the business and, perhaps most importantly, she has put customers and colleagues back at the heart of everything we do. Matalan is a business with strong fundamentals and remains on a firm financial and operational footing. The Board has every confidence that we will deliver our strategic plan.”
