British clothing and furnishing retailer Laura Ashley Holdings Plc’s chief executive officer Kwan Cheong Ng is stepping down after eight years. Chief operating officer Katharine Poulter will take over the top job from May 1. After April 30, Kwan will remain on the company board as a non-executive director. The brand was once a favourite of Princess Diana.
The company’s sales have been affected by store closures, weakness in its home furnishings business and a diminishing consumer mood, according to British media reports.British clothing and furnishing retailer Laura Ashley Holdings Plc's chief executive officer Kwan Cheong Ng is stepping down after eight years. Chief operating officer Katharine Poulter will take over the top job from May 1. After April 30, Kwan will remain on the company board as a non-executive director. The brand was once a favourite of Princess Diana.#
However, it reported rising like-for-like sales in its fashion business in August, implying a resurgence in interest in its styles.
In October, the retailer replaced chief financial officer Seán Anglim, who had been with the company since 1998, and appointed Sagar Mavani as his replacement.
Fibre2Fashion News Desk (DS)
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