Superdry Hires Former M&S And New Look CFOs For Board

(Alliance News) - Clothing retailer Superdry PLC said Thursday it has appointed former Marks & Spencer PLC chief financial officer Helen Weir and former New Look Group CFO Alastair Miller to its board.

Both appointments will be effective from next Thursday. Weir will become senior independent director and Millier will take charge of the company's audit committee.

The majority of Superdry's senior executives, including Chief Executive Euan Sutherland and Chair Peter Bamford, resigned back in April after shareholders voted to appoint founder Julian Dunkerton to turnaround the business. Dunkerton currently serves as interim chief executive officer until the company finds a permanent chief executive.

Current Superdry Chair Peter Williams said: "I am delighted to welcome Helen and Alastair to the board of Superdry. Since becoming chair in April it has been a priority of mine to restore the board to full strength and these appointments are a big step in that direction."

Weir was Marks & Spencer's CFO from 2015 to 2018. Prior to that she was CFO of department store John Lewis Partnership from 2012 to 20115.

Superdry also noted she has held senior finance roles at Lloyds Banking Group PLC and Kingfisher PLC. Weir currently sits on the boards of Just Eat PLC and the England rugby union's governing body Rugby Football Union.

Miller ran New Look's finances from 2000 to 2014. Since then he has been working as a retail consultant to property investor NewRiver REIT PLC.

"Both Helen and Alastair have extensive relevant experience in the retail sector and have served as CFOs of major listed companies. As such I am sure they will both prove excellent additions to the board as Superdry embarks on its turnaround," added Williams.

"We continue to search for an additional two non-executive directors and will make further announcements in due course."

The company was originally scheduled to release its results for the 52 weeks ended April 27 today but has postponed them to next Wednesday.

The company attributed the delay to complexities arising from a non-cash onerous lease and store impairment provision announced in May, which is expected to benefit underlying pretax profit for 2019 financial and subsequent years.

Shares in Superdry were 1.0% higher in London on Thursday at 446.00 pence each.