N Brown chief ex­ec­u­tive to step down amid rocky patch

Yorkshire Post - Business - - BUSINESS / NEWS -

N Brown chief ex­ec­u­tive An­gela Spindler, in­set, is to step down from the plus size re­tailer amid a rocky patch for the com­pany. Ms Spindler will leave at the end of Septem­ber with Steve John­son, who heads N Brown’s fi­nan­cial ser­vices arm, to be­come in­terim chief ex­ec­u­tive.

N Brown chair­man Matt Davies said: “We recog­nise that now is an ap­pro­pri­ate time to search for a new leader who can take the busi­ness for­ward through the next phase of its de­vel­op­ment.”

It comes af­ter the group, which owns JD Wil­liams and Sim­ply Be, said in June that it is set to close all its 20 stores as a re­sult of weak foot­fall. The move to a purely on­line re­tailer puts 270 jobs in doubt. In ad­di­tion, N Brown’s prof­its slumped last year af­ter the com­pany was forced to pay £40m in com­pen­sa­tion to cus­tomers over flawed in­sur­ance prod­ucts.

The prod­ucts, pro­vided by a third-party un­der­writer, were sold to cus­tomers be­tween 2006 and 2014. Mr Davies said the out­go­ing chief ex­ec­u­tive has had to “con­tend with sig­nif­i­cant legacy is­sues and a chal­leng­ing re­tail backdrop”. Ms Spindler said she was proud to have led N Brown over the past five years.

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