Matalan chief executive steps down
Paul Mason to leave discount fashion retailer
March 18 2003
Matalan chief executive Paul Mason has resigned from the board of the discount fashion retailer with immediate effect.
Mason, former president of Asda Wal-Mart UK, joined the business just last year in a high profile appointment by executive chairman John Hargreaves. Retail director Andy Clarke is also departing.
A Matalan spokesperson told news agency Reuters that the disagreement between Mason and Hargreaves was about “management style, not strategy.” Mason replaced Angus Monro, now chief executive of rival UK discounter Poundstretcher.
John King, currently trading director of Matalan Retail and chief executive of the Matalan-owned Lee Cooper brand, takes over as group chief executive of Matalan PLC. King joined Matalan in February 2002 from Delta US.
Hargreaves said: “The Board would like to thank Paul Mason and Andy Clarke for their contributions to Matalan. Paul has large company management experience and has recruited an outstanding team to take Matalan forward to its next level of development.
“The group’s strategy remains focused on the development of the business around a simple retail formula which offers customers outstanding value for money within a low cost operating structure.
“The Board is confident that we have a committed management team with the experience and skills to drive the business forward successfully.”
