New Look founder steps down, non-exec directors appointed

New Look has announced that its founder Tom Singh is retiring at the end of June, and that four new non-executive directors have been appointed.

The news comes following the completion of the company's restructuring transaction announced on 3 May that saw its debt reduced from 1.35 billion pounds to 350 million pounds.

Commenting on his decision in a statement, Singh said: “I’m incredibly proud of all that we have achieved at New Look over the past 50 years. There have been many challenges, but I have been fortunate to work with inspiring and dedicated teams.Thanks to their hard work, and New Look’s loyal customers, the brand has remained a leader in the highly competitive womenswear market."

He added: "With the financial restructuring now complete, I look forward to seeing the company develop successfully.”

Additionally, the company announced the appointment of Angela Luger, Colin Henry, Robin Terrell and Richard Cotter as new non-executive directors. They will join Alistair McGeorge, Richard Collyer, John Gnodde and Paul Gilbert on the board.

Photo credit: FashionUnited

 

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