Debenhams confirms Sir Ian Cheshire appointment as Chairman

British department store group Debenhams has confirmed the appointment of Sir Ian Cheshire as Chairman and non-executive director.

The former Kingfisher chief executive, is set to take over the reigns from Nigel Northridge, who will step down from the role after a six year tenure this April, with Sir Cheshire officially succeeding Northridge on April, 7. His appointment comes as the high street retailer is believed to have begun its much aniticapted board reshuffle following the impending exit of its CEO Michael Sharp, who announced his exit last year.

"We are delighted to welcome Ian to Debenhams," said Northridge on Sir Cheshire appointment. "He has had a long and distinguished career in retail and his experience and expertise will be a great addition to the board. I have enjoyed my six years as Chairman, seeing the business come through a difficult period for the industry in robust shape. Over the last year management's strategy has been delivering as evidenced by our good full year results and strong Christmas trading. I am pleased that we have secured an exceptional candidate for the chairmanship."

Sir Ian Cheshire added: "Debenhams is back in really great shape and I look forward to joining a very strong board and working with the management team to maximise the many opportunities in the business." The announcement comes not long after news of the potential appointment began making the news rounds, as the troubled department store was in need of new guidance and under pressure from its shareholders over its weak performance over the past few years.

 

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