Brown Group Share News (BWNG)

(Sharecast News) - Clothing retailer N Brown said on Thursday that chairman Matt Davies will step down with effect from 31 March, to be succeeded by Ron McMillan.
The company - which owns the Simply Be, Jacamo and JD Williams brands - said Davies is leaving "to spend more time on his other business activities".

McMillan, who is currently senior independent director and audit committee chair, will relinquish those roles.

Gill Barr will succeed him as SID, while on an interim basis, Vicky Mitchell will assume the audit committee chair role. Mitchell has been a member of the audit committee since January 2020.

N Brown said a recruitment process is underway for an additional independent non-executive director who will become the permanent audit committee chair.

The appointment of Ron McMillan is subject to FCA approval.

House broker Shore Capital noted that following a "distinguished" career at PWC, Belfast-born McMillan is an "equally highly regarded" non-executive director. Analyst Clive Black said that given his roles as senior independent director and audit committee chair, he is "very familiar with the business and its senior executive directors".

"As such, we welcome a person of McMillan's calibre taking up the chairman's role, one that represents sound continuity in our view."