CEO and CFO leave Clarks abruptly

Clarks has lost its Chief Exec and Chief Financial Officer who left the British footwear company with “immediate effect”. No official reason has been given for their departure. 
Melissa Potter and Robin Beacham stepped down from the company, which trades from 1,000 stores worldwide and operates in a “highly demanding commercial and economic environment, with increasing competition and intensified customer expectations”, according to a company statement. 
“The board believes that new leadership will help us to meet and overcome the challenges ahead” Clarks also said. 
While new leadership is found, Non-Executive Chairman Thomas O’Neill will lead the business in the interim, whilst Group Financial Controller Mike Coley will take on the temporary role of CFO. 
Potter had been at Clarks for 27 years after joining as a graduate trainee in 1988; she took on the CEO role in 2010. Beacham served nine years with the business. 
O’Neill praised Potter and Beacham, claiming that they “helped to navigate Clarks through significant changes in the sector and turbulent market conditions across the globe. We wish them every success in their future ventures and endeavours” 
In its last full-year Clarks posted a 3.2% fall in group sales which Potter held Black Friday and discounting by rivals, ahead of Christmas, accountable for.   

 

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Posted on September 18, 2015, in #retail, #uk. Bookmark the permalink. Leave a comment.

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