New Look has promoted chief operating officer Nigel Oddy to chief executive, a role that will see him lead the fashion retailer’s omnichannel transformation.
Oddy will take on the role on January 1, when current executive chairman Alistair McGeorge will become a non-executive chairman.
The move follows a financial restructuring at New Look which included the closure of up to 60 stores through CVAs, (company voluntary agreements) as the retailer rebalances the channels that it sells through, in the light of customers’ growing willingness to do more of their shopping online. It is developing an estate of smaller stores close to customers, and offering multichannel services including click and collect and return to store.
“Nigel has been running the business operationally since he joined us and in a short space of time has made significant improvements to our buying, product, supply chain and omnichannel offer,” said New Look’s McGeorge. “As I have said before, his experience will be a great asset as we continue our transformation, which I am confident we are well positioned to deliver.”
Oddy said: “I am delighted to be appointed CEO at such a pivotal moment in New Look’s development. Since joining the business earlier this year, we have focused on strengthening our operational foundations. We have already taken decisive steps to broaden the appeal of our product, enhance the customer journey and improve our lead times.
“Following the successful financial restructuring, we have also been able to strengthen our leadership and begin to invest prudently in the business again. I look forward to continue working with Alistair and the Board, and leading the wider team of 15,000 colleagues, as we continue to build on New Look’s distinctive offer and strong customer heritage.”
New Look is ranked Elite in IRUK Top500 research.
Image courtesy of New Look