Clothing retailer Matalan boss to quit at the end of 2006
19 Jan '06
2 min read
The Board of Matalan announced that John King, Chief Executive Officer, has indicated he intends to leave the company to return to the US, where he worked prior to his arrival at Matalan.
John King has agreed to continue in his role until the end of December 2006 and will continue to manage the business while a new Chief Executive is sought.
In recognition of this, the company has agreed to pay him additional 12 months remuneration at the end of this year.
A search for a replacement Chief Executive is beginning, and Spencer Stuart has been appointed to carry out that process.
John Hargreaves, Chairman of Matalan said, “We would like to thank John for all his work, and I am pleased he has agreed to stay on during the course of this year.
John has led Matalan through a difficult period and has done much to position the business to face the challenges ahead.”
Matalan Plc is one of the UK's leading clothing and homewares retailers offering quality fashion and homewares at up to half the equivalent high street price.
Matalan's product range offers a comprehensive selection of quality homewares, ladies', men's and children's clothing and footwear - all under one roof.
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