N Brown CEO Angela Spindler to step down

12th Sep 2018 14:35

(Sharecast News) - Fashion retailer N Brown said on Wednesday that its chief executive officer Angela Spindler will leave the group at the end of this month after just over five years in the job.The company, which specialises in larger sizes and targets women over 30, said it will begin the search for a new CEO. In the meantime, it has asked Steve Johnson, currently CEO of the financial services business, to assume the role of interim group CEO.Chairman Matt Davies said: "We recognise that now is an appropriate time to search for a new leader who can take the business forward through the next phase of its development. I would like to thank Angela for her significant contribution as CEO. Angela has led the business with passion, energy and a relentless focus on building on the group's industry leading fit specialism as well as building N Brown's on-line capability and expertise. "She has had to contend with significant legacy issues and a challenging retail backdrop and has brought her great personal qualities and values to the way she has led our business. We wish Angela well for the future."Shore Capital said Spindler "faced into the strongest winds and tallest hills in terms of legacy issues at the company and leaves a business in much better shape for the next leader to take on".N Brown is due to release its first-half results on 11 October.At 1445 BST, the shares were down 3.9% to 152.89p.