Superdry founder sets out to rebuild exec team as board members exit

Days after Superdry’s exit from the London Stock Exchange and the British brand’s founder Julian Dunkerton has set about rebuilding its executive team following a series of notable departures. It is believed that CEO Dunkerton has started the search for new board members, including a chairman and two independent non-executive directors, according to a report by Retail Week.

It follows the departure of Superdry’s board of non-executive directors, who stepped down after the company delisted last week. This had built on the past departures of the company’s chief technology officer, chief commercial officer and chief financial officer, all of which had intermittently exited in the past year.

Currently, Dunkerton is serving as interim chair of Superdry, while Giles David and Shaun Packe have been appointed in an interim capacity for the roles of chief financial officer and chief operating officer, respectively.

In June, Superdry had officially initiated a restructuring plan after receiving approval from both its shareholders and the court that would allow it to move forward with Capital and Restructuring Measures. The plan largely revolves around the brand’s store estate, including rent reductions on 36 UK-based stores and the possible closure of up to 30 locations in wider Europe, but also includes a 10 million pound equity raise.