×
664
Fashion Jobs
T S HR
Head of Design
Permanent · SYDNEY
JUST JEANS
Junior Product Manager - Just Jeans
Permanent · Melbourne
ESTÉE LAUDER COMPANIES
Demand Planner
Permanent · Sydney
CLINIQUE
Clinique - Consultant - Myer Castle Hill- Part Time
Permanent · Sydney
ESTÉE LAUDER COMPANIES
Demand Planner
Permanent · Sydney
CLINIQUE
Clinique - Consultant - Myer Castle Hill- Part Time
Permanent · Sydney
L’ORÉAL GROUP
Account Executive- Pharmacy Channel
Permanent · Melbourne
L’ORÉAL GROUP
Account Executive- Pharmacy Channel
Permanent · Melbourne
H&M
Warehouse Supervisor/Group Leader
Permanent · Kingswood
H&M
Warehouse Supervisor/Group Leader
Permanent · Kingswood
L’ORÉAL GROUP
Corporate Accounting Manager
Permanent · Melbourne
MAC
m.a.c Cosmetics Retail Marketing Manager
Permanent · Sydney
JUST JEANS
Supply Coordinator - Just Jeans
Permanent · Melbourne
L’ORÉAL GROUP
Account Manager- E-Commerce
Permanent · Melbourne
CLINIQUE
Clinique - Consultant - Melbourne Cbd And Surrounding Suburb Locations - Part Time
Permanent · Melbourne
CLINIQUE
Clinique - Consultant - Perth International Airport- Part Time
Permanent · Perth
CLINIQUE
Clinique - Consultant - Myer Chatswood- Part Time
Permanent · Sydney
CLINIQUE
Clinique - Consultant - Brisbane International Airport- Full Time
Permanent · Brisbane
L’ORÉAL GROUP
Luxury Fragrance Consultants - l'Oreal Luxe, Gold Coast
Permanent · Gold Coast
L’ORÉAL GROUP
Luxury Fragrance Consultants - l'Oreal Luxe, Brisbane
Permanent · South Brisbane
H&M
Business Controller to Global Buying Office
Permanent · Stockholm
H&M
Department Manager - Macquarie
Permanent · Sydney

Debenhams exec shock, CEO voted off board, chairman quits

Published
today Jan 10, 2019
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

There was a huge upset at Debenhams on Thursday as the company saw a major shareholder losing patience with its top two executives. The result is that its chairman stepped down after the annual general meeting and the chief executive has been voted off the board.


Debenhams



And who was the major shareholder? Mike Ashley, the head of Sports Direct and also of Debenhams rival House of Fraser. The company that he runs owns almost 30% of Debenhams and blocked the reappointment of the chairman and CEO to the board after a Christmas trading statement had been released in the morning that showed the company’s sales falling further.

Sir Ian Cheshire has been chairman since 2016 and told the company he would step down with immediate effect after not only Sports Direct but another major shareholder, Landmark, voted against him.

Terry Duddy, the senior independent director at Debenhams has been appointed as interim chairman.

CEO Sergio Bucher will continue in his role even though he was ousted from the board by Ashley and Landmark. The board said it had “full confidence in Sergio and in the management’s plan to reshape the business”. It’s extremely unusual for a major listed company in the UK to have a chief executive who isn't also a board member.

Mike Ashley has grown increasingly frustrated with struggling Debenhams which he said had refused to accept an offer of a £40 million loan last month.

Copyright © 2019 FashionNetwork.com All rights reserved.