Jack Wills chairman may exit under million pound shareholder deal

Lord Davies, the chairman of preppy fashion retailer Jack Wills, is expected to step down from his role as part of a new deal which will see Inflexion selling its stake in retailer.

According to a report from Sky News, Jack Wills held a meeting on Friday finalizing a deal involving Inflexion, a private equity firm and minority shareholder being replaced by Bluegem, owner of Liberty. A decision concerning the deal is expected to be made on Friday or early next week.

As part of the deal Lord Davies, who has been Jack Wills chairman since March 2014, is expected to step down from his role and make way for an unnamed successor and turn his focus to other boardroom positions. In addition, millions of pounds of new equity will be handed over to help speed up the company's expansion plans.

Inflexion currently holds a 27 percent stake in Jack Wills, whilst its founder and chief executive Peter Williams, would returned to the retailer a year ago, holds 52 percent.

All three parties declined to comment on the news.

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