Fashion retailer New Look has confirmed that Nigel Oddy is stepping down as chief executive officer, and leaving the business.
Oddy joined the retail chain as chief operating officer in April 2019 before being promoted to chief executive officer in December 2019. During his tenure, he led New Look’s financial restructuring, steered the business through the pandemic, and oversaw the chain’s return to profitability.
Commenting on his departure, Oddy said: “With the business having successfully come through Covid and with a solid platform now in place for future growth, this is the right moment for me to step down as chief executive.
“I am hugely proud of how this business and its people have pulled together over the past three years, and I have no doubt that all our New Look colleagues will achieve great success in the years ahead.”
Nigel Oddy steps down as CEO of New Look
In a statement, New Look said that the search for its new chief executive was currently “well-advanced,” and that the board expects to make a further announcement “in due course”.
Mike Coupe, chairman of New Look, said: “I would like to thank Nigel for his hard work and leadership over the past three years. He has been instrumental in ensuring that New Look is on the firm footing it is today and he leaves the business with strengthened operational foundations in place. On behalf of the board, I would like to wish him every future success.”