N Brown chair steps down, successor announced

N Brown chair steps down, successor announced

British retailer N Brown has announced its chairman Matt Davies will
step down on March 31 “to spend more time on his other business

Davies leaves after three years in the position during which he oversaw
a significant period of change at the company, which owns brands Simply Be,
Jacamo and JD Williams.

In December, the Manchester-based business completed a 100 million pound
that it said will help strengthen its balance sheet and “allow targeted
investments to accelerate delivery of growth strategy to capitalise on the
structural tailwinds in the group’s markets”.

For the third quarter, the company reported an 8.8 percent drop in
revenue, but that was a significant improvement on the 21.9 percent and
13.4 percent drops it saw in Q1 and Q2, respectively.

The company also recently moved its listing from the main stock market
to the junior AIM exchange.

N Brown names Ron McMillan as new chair

Ron McMillan, who is currently a senior independent director and audit
committee chair, will relinquish his roles and succeed Davies as

McMillan is also currently audit committee chair and senior independent
director of B&M European Value Retail SA and SCS Group Plc, and audit
committee chair of Homeserve Plc.

Gill Barr will succeed McMillan as senior independent director, while on
an interim basis, Vicky Mitchell will assume the audit committee chair

Mitchell chairs the financial services board and has been a member of
the audit committee since January 2020. A recruitment process is underway
for an additional independent non-executive director who will become the
permanent audit committee chair, the company said.

Image: N Brown media gallery


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