New Look chief Oddy steps down from helm of fashion retailer
Value-focused fashion retailer New Look confirmed on Monday that its CEO Nigel Oddy has stepped down and is leaving the company. It also said that the search for his successor is “well-advanced” but it gave no hint of who might take up the post.
The confirmation came after a weekend report had said Oddy wanted to take a break for a while, although it doesn’t mean that the 62-year-old is contemplating retirement just yet.
Oddy — who had previously been CEO at House of Fraser and The Range — joined the company in 2019 as its COO and soon became chief executive. He’s been a key player in its recovery from problems that pre-dated the pandemic.
The firm has been through a company voluntary arrangement and financial restructuring, as well as navigating the problem of the pandemic when its roughly-400 stores were forced to close for long periods.
New Look chairman Mike Coupe (the former Sainsbury’s boss) said: “I would like to thank Nigel for his hard work and leadership over the past three years. He has been instrumental in ensuring that New Look is on the firm footing it is today and he leaves the business with strengthened operational foundations in place. On behalf of the board, I would like to wish him every future success.”
Oddy himself said that the business has “successfully come through Covid and with a solid platform now in place for future growth”, it’s “the right moment for me to step down as chief executive”.
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