Matalan‘s Chief Executive Jason Hargreaves is set to step down from the helm after seven years leading his family’s retail business.
Hargreaves will remain with the fashion and homeware retailer but in a different capacity, as a strategic adviser for the board.
Steve Johnson, who recently replaced John Mills as chairman, will now lead the board as executive chair from next week.
He will be responsible for the day-to-day operations of Matalan alongside chief commercial officer James Brown.
Jason Hargreaves said: “After seven years at the helm now is the right time for me to step down as the CEO into my new role. Providing our customers with the best value product on fashion and home is our heartland and re-establishing this under my leadership has been a huge achievement.”
“The board, under Steve’s leadership, are now set up to continue this journey and the recent addition of James Brown as our new chief commercial officer will provide the leadership on the trading floor to ensure we continue to grow from the strong base we have today.”
“I am immensely proud of the culture I have created, one where every member of the team has a voice, is valued equally and works tirelessly to deliver for the Matalan customer. I would like to thank all the Matalan family for all their dedication throughout this time.”
Steve Johnson said: “We would like to sincerely thank Jason for his leadership during his time as our CEO.”
“Since joining, I have been impressed by the culture that Jason has created, and we are delighted that he will continue to provide strategic counsel to us.”
“His extensive knowledge, business relationships and experience will help to ensure the core family values remain embedded in the business.”
“Over the past few years, Jason and the team have been successfully evolving the business and, despite the market challenges we are currently facing, we look to the future with confidence.”