Sir Stuart Rose to replace Alan Giles at Fat Face
Fat Face, the active lifestyle clothing and accessories retailer has announced that Alan Giles has notified the Board of his intention to step down as chairman after almost seven years in the role.
Sir Stuart will join the Board on 1 March 2013 and succeed Alan Giles as chairman on 26 July.
Sir Stuart has extensive retail experience having previously been chairman and chief executive of Marks & Spencer, and chief executive of Arcadia Group plc, Argos plc and Booker plc. He is a Non-Executive Director of Land Securities plc, chairman designate of Ocado plc, chairman of Blue Inc and a Non-Executive Director of Woolworths Holdings Limited, a South African-based listed retail group. Sir Stuart has also been a member of Bridgepoint’s Advisory Board since 2008. He was knighted in 2008 for services to the retail industry and corporate social responsibility.
Alan Giles said: “Fat Face is now performing well and the Company is positively positioned for a record year. With the brand on firm foundations and a strong management team in place I feel that it is now time to hand over to a new Chairman. I am confident that Stuart, working with Anthony Thompson, will be a powerful driver of yet further success for Fat Face.”
Never Miss a Retail Update!Sir Stuart Rose said: “I’m delighted to be asked to become Chairman of Fat Face. There are undoubtedly great opportunities ahead for the business and I look forward to working with Anthony and his team in helping them realise their ambitious growth plans for the brand.”
Anthony Thompson, chief executive of Fat Face, welcomed the appointment and acknowledged the contribution of Alan Giles. He said, “Alan is a tremendous supporter of our plans to invest in quality, style and value for money and helped steer us in building a stronger business for better times. On behalf of the entire Board I would like to thank him for his significant contribution. I now look forward to welcoming Stuart and working with him. His skills and experience will be invaluable as Fat Face enters a new phase of growth.”
In January Fat Face announced sales of £85.7m. (+11%) for the 26 weeks to 1 December 2012 and an 11% increase in store sales and 65% increase in e-commerce sales during the Christmas trading period of five weeks to 5th January 2013.
