Superdry has appointed headhunters to hire a new chief executive to replace interim boss and co-founder Julian Dunkerton.
The embattled fashion retailer said today that Dunkerton, who made a dramatic return to the company earlier this year following a bitter boardroom battle, would remain closely involved in the firm.
Chairman Peter Williams also confirmed that the company was close to appointing two new board members to fill spaces left vacant following a mass exodus on Dunkerton’s return.
A board member to lead the remuneration committee is expected to be appointed within the next few weeks.
“It is important that we stabilise the business, having him [Dunkerton] back involved and doing that is excellent news,” said Williams.
“Ultimately in the long term, we have appointed headhunters and we have started a process. Whoever comes in has to work very closely with Julian and the team…we are not in a hurry.”
Dunkerton added: “I care passionately about this business, my only focus is getting it stable, getting the product in the right place, getting the strategy right going forward.”
The announcements were made following the publication of the firm’s first full-year results since Dunkerton ousted former chief executive Euan Sutherland.
Superdry swung to a £85.4m loss, from a profit of £65.3m in 2018 and reported that revenue declined £300,000 year-on-year.
However, Dunkerton insisted that it would take a number of years to reap the benefits of his turnaround plan.
“The issues in the business will not be resolved overnight,” he said.
“My first priority on returning to Superdry has been to steady the ship and get the culture of the business back to the one which drove its original success.”