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Superdry makes Dunkerton's interim CEO role more permanent

Clothing retailer Superdry said this morning (14 October) that Julian Dunkerton’s interim CEO role has been made more permanent.

Dunkerton – who co-founded the company in 2003 alongside business partner James Holder but stepped down from the board in 2018, only to return earlier this year aiming to turn around the fortunes of the ailing retailer – now has a contract until April 2021.

Superdry said that Dunkerton has agreed to continue a mission he started in April to “restore the brand to its design-led roots and lead the business to sustainable growth”. His return to the business resulted in the departure of several executives in the business, including ex-CEO Euan Sutherland, while the last six months have largely been spent building a new leadership team and direction under the chairmanship of Peter Williams.  

The Superdry board's nomination committee will continue the process to find a long-term CEO successor.

Williams said: “Julian has a clear vision and his creativity, ambition and leadership will be crucial for the turnaround of the business.

“As interim CEO, Julian has already been working closely with the team to execute this plan and while much remains to be done, the necessary foundations are being laid. I am looking forward to working alongside Julian during this period as we seek to identify his long-term successor."

Dunkerton added: “I'm pleased that the board has asked me to continue in the CEO role for this important phase of the turnaround.

“Since I have returned to the business full-time, I have been working with the team to put in place the plan that will turn around Superdry, with a focus on its design-led roots and strengthening the retail basics.”

He continued: “We are already seeing early signs of progress and while this will take time, we are excited to realise the brand's full potential.”

In June, Nick Gresham joined Superdry as chief financial officer from online cycling and sports equipment retailer, Wiggle.

Meanwhile in July, underlining the company’s current difficulties, Superdry reported a statutory pre-tax loss of £85.4 million for the 12 months to 27 April 2019, compared with a £65.3 million profit the year before.

Underlying profit before tax fell by 56.8% to £41.9 million from £97 million off the back of flat group revenue of £871.7 million.

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