Home / Knowledge / News / Retail / Debenhams appoints Stefaan Vansteenkiste as CEO

Debenhams appoints Stefaan Vansteenkiste as CEO

13
Aug '19
Stefaan Vansteenkiste/Pic: Debenhams
Stefaan Vansteenkiste/Pic: Debenhams
Debenhams has announced the appointment of Stefaan Vansteenkiste as chief executive officer. He joined Debenhams in April 2019 as chief restructuring officer and has been working closely with the executive team on a new business plan to deliver a turnaround. Debenhams is an international, department store destination with a proud British heritage.

Vansteenkiste is an experienced turnaround expert at professional services firm, Alvarez & Marsal. He is a seasoned CEO and retail operator, having served as CEO or advisor at a number of large retail and consumer companies, according to Debenhams.

Terry Duddy, chairman of Debenhams, will work with Stefaan to ensure an orderly handover and then step down from the board in September 2019.

Vansteenkiste is a managing director at Alvarez & Marsal. Since he joined A&M in 2003, he has been involved in a range of turnaround situations, including CEO and other roles at Intertoys, Vion Food Group, Diam International, and Bally Shoes. Previously, he held senior management roles at theme parks Six Flags and Taco Bell among others. He holds a bachelor’s degree from the University of California, an MBA from the University of Michigan, and a masters from the University of Antwerp.

“The board welcomes Vansteenkiste’s appointment as CEO. We concluded that he is the right person to take the business forward into the next phase of its recovery. He has already made a strong contribution since joining Debenhams, and has the support of our investor consortium to drive forward our turnaround plan,” Duddy said.

“The retail industry faces a challenging environment and everyone at Debenhams acknowledges that. But we have a clear plan and Debenhams has a great team of people who are committed to delivering it. I am very excited about Debenhams’ strong prospects and with a restructured balance sheet there is a robust platform from which to build a turnaround, based on Debenhams’ clear brand focus, broad customer reach and differentiated product offer,” Vansteenkiste said. (GK)

Fibre2Fashion News Desk – India


Must ReadView All

Pic: Shutterstock

Apparel/Garments | On 19th Sep 2020

US firms in some sectors moving out of PRC: Goldman Sachs

Goldman Sachs has said US firms in only specific industries are...

Pic: Shutterstock

Apparel/Garments | On 19th Sep 2020

Sri Lanka's textile & garment exports down 25% in Jan-July

Sri Lanka’s earnings from textiles and garments exports decreased by...

Pic: Avery Dennison Fastener Solution

Apparel/Garments | On 19th Sep 2020

Avery Dennison’s new tag fastener degrades in soil

Avery Dennison Corporation Fastener Solutions has unveiled a tag...

Interviews View All

Sunil Kumar Sharma, Loknayak JPNSSSG Ltd

Sunil Kumar Sharma
Loknayak JPNSSSG Ltd

'The blend of cotton–linen yarn has high demand in the domestic and...

Top executives, Association

Top executives
Association

'Support and Outreach' huge relief for MSMEs

Sunil Rathore, Lacoste India

Sunil Rathore
Lacoste India

‘New vendor is welcome if he offers cost, quality and timely delivery’

Dr. Vijaya Kumar,

Dr. Vijaya Kumar

Dr MM Kariappa founded the Vogue Institute of Art & Design in 1996....

Angelo Leung,

Angelo Leung

Guangdong Asiatex Textiles provides international and domestic apparel...

Devendra Gupta,

Devendra Gupta

Reforce, a start-up based in Gurgaon, aims to revolutionise the fitness...

Ian Russell, Pireta

Ian Russell
Pireta

UK-based Pireta has developed a unique free-form process to add durable,...

Chunyi Zhi, City University of Hong Kong

Chunyi Zhi
City University of Hong Kong

<div><b>Chunyi Zhi</b>, associate professor in the Department of Materials ...

Mr Ambrose Chan, DSG International (Thailand) PLC

Mr Ambrose Chan
DSG International (Thailand) PLC

Anisha Chaudhari, Threads & Shirts

Anisha Chaudhari
Threads & Shirts

Threads &amp; Shirts is a freshly-tailored concept providing men/women a...

Anjali Bhaskar, Samatvam

Anjali Bhaskar
Samatvam

Anjali Bhaskar has an experience of 12 years in the fashion industry. She...

Sidharth Sinha, Sidharth Sinha

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


September 2020

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search