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New Look CEO to join The White Company

By FashionUnited

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Fashion

Ailing retailer New Look has confirmed the exit of its CEO Will Kernan, who is leaving to join lifestyle and homeware brand The White Company. Mr Kernan, who had worked at New Look for almost 12 years, was not offered the job of chief executive

following the surprise departure of Carl McPhail in March. The chief executive’s position remains unfilled, and the company is not expected to announce a replacement for either role until the new year.

According
to the Financial Times, New Look’s private equity owners Apax and Permira appointed former Matalan chief executive Alistair McGeorge as executive chairman in May, tasking him with turning around the chain, which has shelved hopes of a stock market listing following poor trading. In 2010, New Look’s planned £1.7bn flotation was abandoned after investors became nervous at the size of the company’s debts.

Since Mr McGeorge’s appointment, New Look has parted company with its director of communications, and two senior marketing staff. In October, Dom McBrien, the retailer’s e-commerce director quit to join Marks and Spencer.

At full-year results in June the retailer reported a 7.1 per cent like-for-like drop in UK sales, and a 40 per cent fall in underlying operating profits to £98m.

In a statement, Mr McGeorge said he wished Mr Kernan “all the best in his new role”. The White Company, which is privately owned, has recently mounted a push into clothing, but is better known for selling upmarket bed linen and homewares.

Image: Taylor Momsen for New Look

New Look
The White Company