THE RETAIL BULLETIN - The home of retail news
20 years serving the retail industry
Home Page
News Categories
Christmas Ads
Commentary
Department Stores
Electricals & Technology
Entertainment
Fashion
Food & Drink
General Merchandise
Grocery
Health & Beauty
Home & DIY
Interviews
Property
Retail News
Retail Solutions
Shopping Centres, High Streets & Retail Parks
Sports & Leisure
Retail Events
Retail HR 2022
THE Retail Conference 2022
Retail Women In Leadership 2022
Digital Transformation Strategy 2022 Part 2
Upcoming Retail Events
Past Retail Events
Retail Insights
Retail Solutions
Advertise
About
Contact
Subscribe for free
Terms and Policies
Privacy Policy
Sir Ian Cheshire steps down from Debenhams’ board

Debenhams chairman Sir Ian Cheshire has stepped down from the department store’s board after two major shareholders voted against his re-election at its AGM. One of… View Article

DEPARTMENT STORES

Sir Ian Cheshire steps down from Debenhams’ board

Debenhams chairman Sir Ian Cheshire has stepped down from the department store’s board after two major shareholders voted against his re-election at its AGM.

One of the shareholders included Sports Direct head Mike Ashley. 

Following the AGM, Debenhams said in a statement: ”Given the decision of two major shareholders who voted against his re-election to the board, Sir Ian has concluded it is no longer possible for him to remain chairman of Debenhams.”

Terry Duddy, Debenhams’ senior independent director, has now been appointed interim chairman. He said: “I recognise that individual shareholders have wished to register their dissatisfaction. I would like to thank Ian for his strong leadership of the board and his contribution to the business. We wish him all the best for the future.”

At the meeting Debenhams chief executive Sergio Bucher was also not re-elected to his board position but will remain in post as chief executive.

Debenhams said: “The board is mindful of its responsibilities to all shareholders and has full confidence in Sergio and in the management’s plan to reshape the business.”

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News