Topshop and Topman CEO Paul Price to step down

12 Dec '19

1 min read

Pic: Shutterstock

Chief executive of Topshop and Topman Paul Price will leave the company at the end of December for 'personal reasons' and relocate back to the United States, the company recently said. Confirming the departure, Arcadia owner Sir Philip Green said the decision has nothing to do with performance and he is leaving under 'amicable' circumstances.

The development follows after Topshop and Topman declared a 9 per cent dip in sales in its results in September.

Arcadia chief executive Ian Grabiner is expected to lead operations across the two brands following Price's departure, according to British media reports.

Price joined Topshop in September 2017 after a decade working at luxury fashion house Burberry.

The Arcadia Group owns Burton, Dorothy Perkins, Evans, Miss Selfridge and Wallis, as well as Topshop and Topman.

Last month, Arcadia announced the appointment of hotel veteran Andrew Coppel as chairman to help tackle the retail group's turnaround ahead of the key Christmas trading period.

Fibre2Fashion News Desk (DS)

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