Monsoon Accessorize to keep Paul Allen on board as CEO in permanent capacity

Former financial director at fashion retailer Monsoon Accessorize, Paul Allen, who was asked to step in as Chief Executive Officer on a interim basis following John Browett departure last year is to take up the role permanently, reports Drapers.

Following Browett sudden exit in February 2015, Allen was asked to take up the helm at Monsoon Accessorize as the company prepared to begin its turnaround scheme, aimed at improving the financial performance at the women'swear retailer, which revealed a double-digit decline in annual profit last spring.

At the time of his interim appointment, Allen revealed that he was leading a two-year "strategic transformation programme" which focused on strengthening Monsoon's brand image and apparel ranges, whilst cutting down on excess costs and bolstering weak performances overseas. "We expect these actions to bear fruit over the next two years, although there will be an inevitable cost in the current year, when we expect a further fall in profitability," said Simon at the time.