Matalan boss steps down as founder's son takes helm
Darren Blackhurst, the chief executive of Matalan, has stepped down after a fall in the retailers first quarter sales.
Having joined the business less than two years ago, Blackhurst is understood to have left “to pursue other opportunities”.
The news comes following a disappointing first quarter for Matalan in which sales fell to £258.6 million from £278.6 million in the previous year.
Meanwhile Jason Hargreaves, the son of Matalan founder John Hargreaves, has taken the helm as managing director.
In a statement, Matalan said: “We thank Darren for his contribution, wishing him good luck for the future.”
Jason Hargreaves added: “I’m very enthusiastic for the future of the company and look forward to working with everyone to deliver the opportunities that exist going forward.”
In an additional appointment, Stephen Hill has taken up the role chief financial officer.
Hill said: “I am delighted to become CFO of the company I joined 12 years ago, and like Jason I have great confidence in where we can take the business.”
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