New Look appoints Mike Coupe as chairman
Fashion retailer New Look has appointed former J Sainsbury chief executive Mike Coupe as its new non-executive chairman.
Due to take up his role on 29 September, he will succeed Alistair McGeorge who, following a prior three year tenure as chairman, returned to the business as executive chairman in 2017 to begin the company’s turnaround strategy. He then stepped back from day-to-day operations following the appointment of Nigel Oddy as chief executive in 2019.
McGeorge said: “After four years as chairman, now is the right time for me to stand down. New Look is in a remarkably better position now than it was when I returned to it in 2017. This is fundamentally due to decisive actions taken to restructure the business operationally and financially, and to recover the broad appeal fashion and great value that New Look is known for, which has been led by Nigel and his team.”
He added: “I leave the business in incredibly capable hands and the company will benefit greatly from Mike’s invaluable expertise, experience and oversight as it looks to continue on the positive trajectory it is set on.”
Coupe led Sainsbury’s for over six years until 2020, during which time he oversaw growth of the retailer’s Tu Clothing business and the acquisition of Argos and Habitat parent company Home Retail Group. He is also non-executive chairman of Oak Furnitureland and Harding Retail.
Last year, New Look completed a significant recapitalisation of its finances.
Oddy said: “Alistair’s contribution to New Look has been invaluable. He has provided strategic vision, operational experience, and wise counsel to the board during his tenure. He leaves the business with a clear strategy and in a strong position for future growth. I am delighted that Mike is joining the company as chairman, and having spent time with him already, we both share the same excitement and enthusiasm to deliver on our strategy, through the combination of a cohesive omnichannel model, conveniently located stores, and feel-good fashion at great prices.”