Friday 16 October 2020 9:38 am

Superdry finance chief quits after 16 months

Superdry has announced that its chief financial officer has stepped down after just 16 months in the role.

The fashion brand’s share price dropped more than four per cent this morning after it announced that Nick Gresham had left the company with immediate effect.

Read more: Superdry loss widens as pandemic hits turnaround plan

Superdry, which said Gresham had decided to leave the firm, has launched a search for a permanent replacement.

Gresham joined the firm in June 2019 after Superdry’s founder Julian Dunkerton was reappointed as chief executive following a boardroom battle.

Chief executive Julian Dunkerton said: “Nick joined Superdry at a time of significant change and challenge in the business.

Read more: Superdry secures new lending facility as coronavirus hits revenue

“He has played an important role in putting the Company in a stronger position than it was before he joined and helped to steer Superdry through the impact of the COVID pandemic.

“ I would like to personally thank Nick for all his efforts in supporting me, the Company and all our stakeholders. I wish him all the best for the future.”

Superdry declined to give further explanation for Gresham’s departure.

The company last month reported deepening losses for the full year as the outbreak of coronavirus took its toll on the fashion chain’s turnaround strategy.

Superdry posted revenue of £704.4m in the 52 weeks to 25 April, down 19.2 per cent. Statutory loss before tax widened from £89.3m to £166.9m.