Julian Dunkerton to stay on as Superdry CEO until April 2021
British fashion brand Superdry has said co-founder Julian Dunkerton will stay on as chief executive officer until April 2021.
Dunkerton has been interim CEO since April this year, after very narrowly winning a crunch shareholder vote with a pledge to turn the struggling retailer around.
In July Superdry fell to a £85.4m loss, from a profit of £65.3m in 2018, and reported that revenue declined £300,000 year on year.
Although Superdry’s appointed headhunters are still searching for a longer term replacement, today’s extension reflects the confidence of shareholders in Dunkerton. They backed his reappointment by 99.97 per cent at the firm’s annual general meeting last month.
Dunkerton said: “Since I have returned to the business full-time, I have been working with the team to put in place the plan that will turn around Superdry, with a focus on its design-led roots and strengthening the retail basics.”
“I’m pleased that the board has asked me to continue in the CEO role for this important phase of the turnaround.”
“We are already seeing early signs of progress and while this will take time, we are excited to realise the brand’s full potential.”
Peter Williams, chairman of the board of Superdry, said: “The board is delighted that Julian has agreed to continue in the role as CEO through to April 2021.”
“Julian has a clear vision and his creativity, ambition and leadership will be crucial for the turnaround of the business.”
“As interim CEO, Julian has already been working closely with the team to execute this plan and while much remains to be done, the necessary foundations are being laid. I am looking forward to working alongside Julian during this period as we seek to identify his long-term successor.”
(Image credit: Getty)