New Look’s Paul Mason to step down following 2 billion pound deal

New Look’s chairman Paul Mason is set to exit his role at the high street retailer following its acquisition by South African private equity vehicle Brait earlier this month, in a deal which value the chain at close to 2 billion pounds.

According to Sky News, the retail veteran, who is also the current chairman at Cath Kidtson, is set to leave his role at New Look over the next few days. In the statement published by New Look announcing the sale, Mason's name is also absent from the list of management to remain with the group following the deal.

Brait reportedly requested that Mason remain with label after the deal was complete, but Mason is eager to take on new hands-on chairmanship roles according to those close to the matter.