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Wilko appoints new CEO as part of wider restructuring

Budget high street giant Wilko has appointed former Bensons for Beds boss Mark Jackson as its new CEO. Jackson, a restructuring expert, has been named CEO… View Article

GENERAL MERCHANDISE NEWS

Wilko appoints new CEO as part of wider restructuring

Budget high street giant Wilko has appointed former Bensons for Beds boss Mark Jackson as its new CEO.

Jackson, a restructuring expert, has been named CEO designate and will replace Jerome Saint-Marc in the hot seat at the Nottinghamshire-headquartered firm.

Jackson was previously chief financial officer of the UK arm of Steinhoff International, the South African conglomerate that came close to collapse after accounting fraud was discovered in 2017.

The news comes amid a turbulent period for the retailer, which recently brought in advisors after a combination of soaring inflation, shipment delays and store closures impacted its bottom line.

The company’s recent annual accounts were accompanied by a “going concern” warning in which it stated there was a risk of it running out of cash by the end of 2023 if trading conditions deteriorated further and it did not secure access to credit.

 

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