Matalan announces exit of CEO Henrik Nordvall

British fashion and homeware value retailer Matalan has confirmed that chief executive officer Henrik Nordvall will leave the business by “mutual agreement” with the board.

Nordvall, who joined Matalan in February, will be replaced by Karl-Heinz Holland as executive chair on a permanent basis, having served as chair since 2023, “to build on the momentum it has established while maintaining continuity”.

Holland, who has had a distinguished career in the retail and consumer goods sector, including leading Lidl and Takko Fashion, will take up the role immediately and lead the business alongside Matalan’s executive team.

In a statement, Matalan’s board said that it was “confident” that the new leadership structure would continue to deliver the retailer’s strategy “with pace and discipline, as well as long-term profitable growth”.

Commenting on Nordvall’s departure, Holland said: “Henrik has made a significant contribution during his time with Matalan, helping to shape the next phase of the business at the same time as delivering strong results in both revenue and EBITDA. On behalf of the board, I would like to thank him for everything he has done and wish him every success for the future.

"Together with Matalan’s executive team and colleagues across the business, I look forward to building on the progress we have made over the past year. We have a clear strategy, strong momentum and a significant opportunity ahead of us. Our focus remains on delivering better everyday style, quality and value for our customers as we continue to build a stronger business for the long term.”

Karl-Heinz Holland replaces Matalan CEO Henrik Nordvall to lead retailer

In June, Matalan said it has narrowed its annual losses and achieved a slight increase in total revenue for the full year 2026 results, with reported adjusted EBITDA growth of 24 percent to 69 million pounds, driven by its ongoing strategic priorities, such as improving in its product ranges, and strong online performance.

The retailer has built on that progress into FY27, with first-quarter revenue growth, further market share gains in both volume and value, and adjusted EBITDA growth of 45 percent to 14.9 million pounds.

Nordvall added: "During my time at Matalan, I experienced a company with genuine ambition and the capability to achieve its goals, driven by a highly talented leadership team and colleagues across the business.

“With a clear direction in place for Matalan’s future growth, I look forward to watching the company's continued success. I want to sincerely thank Karl-Heinz for the opportunity, and I wish him, the executive team and the entire organisation all the best moving forward."