Selfridges CEO Andrew Keith steps down after four years

Selfridges CEO Andrew Keith is to exit the department store after four years at the business during which it navigated the aftermath of the Covid pandemic and underwent a change of ownership.

Keith first joined Selfridges as managing director in February 2021. Prior to this, he served as President of Hong Kong and China-based luxury retailer Lane Crawford, which also owns the famous Joyce boutique. He also joined the Victoria & Albert Museum as a member of its Finance & Commerical Committee in May this year.

He was promoted to CEO at the Selfridges store last year but is now leaving to "pursue other ventures", according to a report in WWD. His role will now be overseen by Selfridges Group CEO André Maeder, formerly of Germnan department store KaDeWe, who joined in May of this year.

Tos Chirathivat, Selfridges Group chair and executive chair and CEO of Central Group, which co-owns the Selfridges Group said: “[Andrew] has been an invaluable member of the Selfridges team, leading the business out of the Covid lockdowns and through its acquisition in 2022.

“The launch of the Selfridges Strategy under Andrew’s leadership has resulted in many new customer innovations and enhancements. He has also been instrumental in helping to drive and champion the brand’s creative expression through a roster of world-leading collaborations and thought-provoking campaigns."

Andrew Keith

Keith said of his departure: "I am proud to be leaving Selfridges in such a strong position and to pass the baton to André to continue this journey with our great team.”

He leaves during a tumultuous time for the Selfridges Group, which also owns Irish department store Brown Thomas and Dutch department store De Bijenkorf. Canadian family the Westons sold the business to Thai retail group Central Group and investor Signa in 2021 for £4 billion.

However, Signa – owned by billionaire Rene Benko – filed for insolvency in December 2023 amid financial troubles, bringing the future ownership structure of the department store into question.

Central Group has been exploring ways to take greater control of the department store chain by buying out Signa’s remaining stake in the retailer with another partner. It is in talks with several sovereign wealth funds and tycoons about a potential partnership.

Most recently Saudi Arabia’s Public Investment Fund (PIF), which already owns 10% of Selfridges Group, has been reportedly interested in boosting its stake to 50% by buying up the remaining Signa shares. Gucci and Saint Laurent owner Kering has also been circling, according to reports.