Friday 26 July 2019 11:40 am

Superdry completes board line-up after exodus

Julian Dunkerton, chief executive of Superdry, was in advance talks to raise £15m to improve Superdry’s performance, following reports last month that it would cut costs by more than £35m due to low consumer spending (Source: Getty)

Superdry has filled the final two board positions left vacant after the reappointment of founder Julian Dunkerton sparked a mass exodus earlier this year.

The retailer announced today that Georgina Harvey, who sits on the board of William Hill, McColls Retail Group and Big Yellow, has been appointed non-executive director and will chair the firm’s remuneration committee.

Faisal Galaria, former chief strategy and investment officer at Gocompare, has also joined the board.

Superdry chairman Peter Williams said: “Georgina is a highly experienced non-executive director and remuneration committee chairman, while Faisal brings world-class digital expertise to the board, skills which I believe will be of huge benefit to the business.

“Along with the appointments of Helen Weir and Alastair Miller announced earlier this month, we now have the right board to support the business as we set out to reinvigorate the Superdry brand and improve the financial performance of the company.”

Earlier this month 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 in its first full-year results since Dunkerton ousted former chief executive Euan Sutherland.

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.”