N Brown chief executive to leave retailer
Angela Spindler will leave her role at the end of September.
N Brown chief executive Angela Spindler is to step down from the plus size retailer amid a rocky patch for the company.
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Ms Spindler will leave at the end of September with Steve Johnson, who heads N Brown’s financial services arm, to become interim chief executive.
N Brown chairman Matt Davies said: “We recognise that now is an appropriate time to search for a new leader who can take the business forward through the next phase of its development.”
It comes after the group, which owns JD Williams and Simply Be, said in June that it is set to close all its 20 stores as a result of weak footfall.
The move to a purely online retailer put 270 jobs in doubt.
In addition, N Brown’s profits slumped last year after the company was forced to pay £40 million in compensation to customers over flawed insurance products.
The products, provided by a third-party underwriter, were sold to customers between 2006 and 2014.
Mr Davies said the outgoing chief executive has had to “contend with significant legacy issues and a challenging retail backdrop”.
Ms Spindler said: “I have been incredibly proud to lead N Brown over the past five years and to work with such exceptionally talented people that make N Brown the great company that it is.
“Over the last five years we have undertaken a significant transformation across the business to support our online future which will form a strong foundation for the coming years.”
In its latest trading update for the 13 weeks to June 2, N Brown’s revenue from its retail brands fell 2.8%.
JD Williams’ sales fell 2%, while Simply Be and Jacamo’s sales rose by 9.3% and 2% respectively.