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Moss Bros chair Colin Porter resigns as the business goes private

Sadiyah Ismailjee
03 July 2020

Moss Bros non-executive chairman, Colin Porter has reportedly stepped down, including several other directors as the menswear retailer shifts to becoming a private company.

Porter joined the Moss Bros board in March last year as an independent non-executive director.

Previous to this role, he was the chief executive of Joules, where he navigated the growth of the business through a global multichannel strategy.

Senior independent non-executive director Alex Gersh, and non-executive directors Gareth Jones, Maurice Helfgott, and Avis Darzins all stepped down from the business last month.

In March, Moss Bros announced it was being bought for £22.6 million by the owner of Crew Clothing, Menoshi Shina.

The Moss Bros board agreed to the terms of the acquisition, a cash offer of 22p per share by Brigadier Acquisition Company.

Reportedly, as the new parent company already has a board, the Moss Bros board is potentially being dismantled.

In addition, Moss Bros chief executive Brian Brick and chief financial officer Bill Adams will remain on the parent company board.

Recently, Moss Bros said it would launch a one-to-one appointment offering, as part of the phased reopening of its store portfolio.

 

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