New Joules CEO Jonathon Brown
Joules has hired former John Lewis omnichannel director Jonathon Brown as CEO.
Brown, who was most recently CEO of Compare The Market, will replace Nick Jones, who revealed he would stand down earlier this year.
Brown will become CEO designate on 7 September before taking over on 30 September.
The retailer said that Brown was “a proven leader with a strong track record of improving performance and implementing strategic transformation programmes across several digital and retail businesses”.
He was previously COO of Moonpig-owner Photobox Group, where he led the strategic, commercial and organisational transformation of the business, and turned around discount etailer MandM Direct, where he was CEO.
Brown takes over Joules amid volatile trading. The retailer warned earlier this year that profits would be well below expectations due to soaring costs.
Joules called in KPMG last month to help it secure a cash lifeline and confirmed last week that it is in talks with fashion giant Next, which is interested in taking a minority stake in the lifestyle retailer.
Brown said he was delighted to take over Joules at “such an important time in its development” and plans to return the business to “sustainable, profitable growth”.
“Joules is a very strong brand, with a highly relevant purpose and product proposition. The group’s digitalisation in recent years as well as its increased customer base mean it has very solid foundations for the future,” he said.
“Whilst there have been some headwinds in the past year, I am very excited by the business’ future opportunities. The group is making strong progress against its clear plans to improve profitability by simplifying the business and optimising the cost base.”
Joules chair Ian Filby said: “The board was in unanimous agreement that, amongst some very high calibre candidates, Jonathan was the standout choice to be our new CEO.
“He has significant experience across the retail and digital industries, a proven track-record of delivering business transformation, and the vision and ambition to lead Joules through the next stages of its development. The board has every confidence in him, and we look forward to working closely together over the coming years.”