Iain McDonald returns as non-executive chair of Debenhams Group
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UK online platform Debenhams Group has announced a series of leadership changes to its board of directors, effective immediately, as the company transitions from its operational turnaround phase toward rebuilding equity value.
Iain McDonald has been reappointed to the board as non-executive chair. McDonald previously served as a board member between June 2017 and February 2026. He brings significant capital markets experience to the position, both as a personal investor and through funds managed by his firm, Belerion Capital Group.
McDonald succeeds Tim Morris, who has stepped down as chair and non-executive director after serving on the board since May 2021.
In addition to McDonald’s return, the group has appointed Michael Stewart and Stephen Rothwell as independent non-executive directors.
Rothwell, founder of UK digital marketing technology business Eagle Eye Solutions Group, brings extensive experience in technology, digital loyalty, and consumer platforms to support the company’s capital-light model. Stewart, currently a member at UK investment firm Chrysalis Investment Partners, brings 13 years of experience in investment management, public markets, and growth strategy.
“I would like to thank Tim for the significant and critical contribution that he has made to our turnaround,” said Dan Finley, chief executive officer of Debenhams Group. “The business has been significantly strengthened during his tenure as chair. We wish him all the very best in his future endeavours. We are pleased to strengthen the board today with the appointments of Iain, Stephen, and Michael. They bring significant experience in capital markets and advanced technology, which will benefit us as we continue to deliver our multi-year turnaround.”
McDonald added: “The progress made over the past six to 12 months is significant and there is a real feeling of momentum in the business. I look forward to supporting the management team in their efforts to restore value and to engage constructively with all shareholders.”