Wednesday 17 April 2019 1:45 pm

Superdry appoints new broker after mass exodus prompted by Dunkerton's return

Superdry has appointed Jefferies as its new corporate broker and financial advisor following a mass exodus from the firm after the retailer’s founder was reappointed to the board.

Investors narrowly voted in favour of allowing Julian Dunkerton to return to the board earlier this month, prompting the resignations of former brokers UBS and Investec.

Read more: Superdry shares dive after board exodus


Chairman Peter Bamford, chief executive Euan Sutherland, finance chief Ed Barker and remuneration committee chair Penny Hughes also stepped down with immediate effect following the decision.

Dunkerton took over as interim chief executive while Peter Williams – the former Boohoo chair who also narrowly won a vote to return to the board – was appointed as Superdry’s chairman.

Shareholders voted by a majority of 50.75 per cent to re-elect Dunkerton in a major blow to Superdry’s directors, who had previously threatened to resign after warning investors that the entrepreneur’s reappointment would be "extremely damaging".

Read more: Superdry board in mass resignation as Dunkerton takes the reins

The dramatic resignations followed a bitter public row between Dunkerton and Superdry, with both sides accusing the other of leading the embattled group in the wrong direction.

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