Fenwick’s chief executive, Robbie Feather, and non-executive chairman, Richard Pennycook, have both equally stepped down from the board, as the Fenwick spouse and children seeks to choose back again more handle of the business.
Feather, the retailer’s first non-spouse and children CEO, will be replaced by John Edgar, previous CFO at Harrods and Selfridges. There will be a handover interval of a thirty day period to assure a “smooth transition”. Pennycook will be replaced by Steve Barber, a recent non-executive director, on an interim foundation.
Andy Doyle, non-executive chair of the remuneration committee, is also stepping down from the board.
Fenwick said the changes will “bring the spouse and children nearer to the jogging of the business and trim down the board, which, in the recent weather, is the appropriate selection now and for the for a longer period term”.
A Fenwick spouse and children spokesperson said: “We would like to thank Richard for his steerage in the course of his time as chairman, and to thank Robbie for all his leadership and commitment in driving the most formidable transformation in Fenwick’s background. We a lot enjoy Andy’s contribution to the board also. This is an unprecedented time for the retail sector, and we are happy to welcome John Edgar as Fenwick’s new chief executive. We glimpse forward to operating intently with John and the entire group to aid manual Fenwick through this unbelievably complicated time.”