New Look said the process to identify his successor ‘is currently well-advanced’.
06 June 2022
The boss of New Look has announced he will stand down from the high street fashion chain.
Nigel Oddy, who led the company during a restructuring process following the impact of the pandemic, confirmed he will step down as chief executive.
The retailer, which has about 400 stores, returned to profitability in recent months following the toll of the pandemic.
Mr Oddy joined New Look in April 2019 as chief operating officer, following roles running House of Fraser and The Range.
He was promoted to chief executive in December that year and was in charge as the company undertook a Company Voluntary Arrangement (CVA) restructuring process and closed 39 stores.
New Look said the process to identify his successor “is currently well-advanced” and it plans to make a further announcement in due course.
Mr Oddy said: “With the business having successfully come through Covid and with a solid platform now in place for future growth, this is the right moment for me to step down as chief executive.
“I am hugely proud of how this business and its people have pulled together over the past three years, and I have no doubt that all our New Look colleagues will achieve great success in the years ahead.”
Mike Coupe, chairman of New Look, said: “I would like to thank Nigel for his hard work and leadership over the past three years.
“He has been instrumental in ensuring that New Look is on the firm footing it is today and he leaves the business with strengthened operational foundations in place.
“On behalf of the board, I would like to wish him every future success.”
