Ex Karen Millen CEO appointed to head up Clarks

Former Karen Millen CEO Mike Shearwood has been appointed as CEO of Clarks. One of the high street's most experienced CEOs, Shearwood takes on Clarks following a tumultuous year for the footwear brand and retailer.

Shearwood quit as Karen Millen CEO a year ago having failed to gain support for a management buy-out from its Icelandic owners, while Clarks has been without a CEO since Melissa Potter was asked to leave by the board following poor Christmas trading. Chairman Tom O'Neill had been covering the CEO role as well while a replacement was found.

Shearwood, who prior to joining Aurora (Karen Millen's parent) had headed up Zara in the UK, said he was "excited" at the opportunity to lead the brand which was founded in Somerset in 1825 and which has global recognition with more than 1,000 stores worldwide.

"The retail sector is evolving at an accelerated pace and the changes demand an agile business that can respond to this. Clarks already has the infrastructure in place for ecommerce and a strong international business," Shearwood told The Telegraph.

Clarks' latest numbers show to 31 January showed pre-tax profits falling by two-thirds to £35m on flat sales of £1.5bn. The figures led to the business being forced to make 170 job cuts at its Somerset HQ in February.

O'Neill said he was "delighted" to welcome Shearwood to the business, which remains 80% family-owned. "Mike brings an exceptional combination of business leadership together with strong brand and retail skills. He also brings proven experience of introducing and applying innovative omni-channel initiatives, which will help us deliver on our new strategy and accelerate plans to deliver the next chapter of Clarks’ development," he said.