Arcadia appoints former De Vere Group CEO as new chairman

Arcadia Group has appointed former CEO of financial advisory organisation De Vere Group, Andrew Coppel, as its new chairman.

Coppel, who will be replacing interim chairman Jamie Drummond Smith who stepped down in September, will also become chairman of Topshop Topman Limited, and Taveta Investments Limited, Arcadia’s direct holding company. In his new role, Coppel will “be responsible for each boards’ effectiveness and corporate governance” and will support the executive team as Arcadia continues its turnaround plan.

In June, Arcadia avoided collapse after winning backing from creditors to launch a company voluntary agreement (CVA) to save the retailer amid difficult retail conditions.

Commenting on the appointment in a statement, CEO of Arcadia Group, Ian Grabiner, said: “I am pleased to welcome Andrew to the group. He has a wealth of relevant experience and I look forward to working with him as we continue to implement our growth strategy. Since we completed our restructuring process over the summer, we have been making good progress with our plans, focusing investment on delivering better customer experiences, improving our digital offer and extending our wholesale partnerships. Despite the ongoing headwinds for UK retailers, I am confident this progress will continue.”

Coppel added: “I am delighted to have been appointed as chairman of the three principal Arcadia Group companies. Whilst the group is not immune to the challenges affecting the UK retail sector, it owns several outstanding high street brands.

“Following the approval of the CVA, the group has a stable platform from which to move forward. We have 18,000 very capable and loyal employees servicing our brands located in our 2,400 stores, concessions and franchises globally and through our wholesale partners, including Next, Asos, Zalando and Nordstrom in the US.

“Despite the macro factors currently impacting retailing in the UK, I am confident that we can make good progress in the interests of all our stakeholders.”

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