Matalan founder John Hargreaves returns as Executive Chairman
Matalan has announced that executive chair Steve Johnson is stepping down from the board, and that John Hargreaves will return to Matalan in the capacity of founder and chair, with immediate effect.
Mr Johnson joined Matalan in July 2020 and is also currently chairman of Poundland. Matalan was founded by Mr Hargreaves with a stall in Liverpool in 1985.
Mr Hargreaves said: “I would like to personally go on record and thank Steve for all his invaluable leadership and contribution over the last two years.
“Steve joined the business in a non-executive chair capacity and I am grateful that he agreed to step into an executive role to help guide the company through the pandemic.
“Nobody could have predicted the pandemic or the more recent macro-pressures affecting the retail industry.
“Matalan’s navigation of these challenges, our market share gains, and the top-line performance announced in our latest trading updates, are testament to Steve’s leadership and our colleagues’ ongoing dedication.
“My belief in, passion for, and commitment to our business is stronger than ever and I look forward to maximising our growth potential, along with the senior leadership team, delivering true omnichannel value for our customers. On behalf of the board, I would like to wish Steve all the very best with his future endeavours.”
Mr Johnson added:”It has been a pleasure to lead and work with all the colleagues at Matalan over these last two extraordinary years. Matalan’s great value proposition is well positioned to prosper over the coming years. I wish everyone in the business every success in the future.”