N Brown hires former Very Group finance boss as CFO
N Brown Group, the owner of JD Williams, has appointed Dominic Appleton as Chief Financial Officer, taking over the role from Rachel Izzard.
Appleton is an experienced finance professional having spent a total of 10 years at The Very Group, most recently as Group Finance Director. He has previously held Chief Financial Officer roles at online bathroom retailer, VictoriaPlum, and leading footwear brand, Hotter Shoes.
Prior to this he worked in senior finance roles at SSL International and Procter & Gamble, having begun his career at KPMG where he qualified as a chartered accountant.
Izzard will work with Steve Johnson, Group Chief Executive Officer, and the Board, to "ensure an orderly handover" to Appleton. It is currently envisaged that Izzard will leave the business, and that Dominic will join the Board, following the completion of the FY23 Annual Report and Accounts at the end of May.
Steve Johnson, Group Chief Executive Officer of N Brown Group, said: "We are delighted to welcome Dominic to the N Brown team. His considerable expertise and experience gained in consumer businesses, particularly in digital retail and financial services, will make him a key addition to the executive management team."
Earlier this year, N Brown Group reported a 7.6% decrease in revenue to £249.2 million for the 18 weeks ending 31 December 2022. The group's product revenue dropped 9.2% to £166.4 million, reflecting a "soft and highly promotional" market.
N Brown Group said that the cost-of-living pressures continued to impact its customers during Q3. It added that customers have been "more intentional in their spend during the period, buying what they need or what they love, with a greater focus towards either the value or premium end of our ranges".
Izzard will be tasked reflecting on N Brown's financial data, analysing the company's financial strengths and weaknesses and proposing corrective actions.