("Superdry" or "the Company")
This announcement contains Inside Information
16 December 2020
Management Appointments and Directorate Change
Superdry is pleased to announce a further strengthening of its executive management team, as the Company accelerates the strategic reset of the brand. Julian Dunkerton has been appointed Chief Executive Officer on a permanent basis and will be supported by the appointment of Silvana Bonello as Chief Operating Officer.
The Board also announces that Peter Williams has decided to step down from the Board and his role as Chairman in 2021.
The Board has appointed Julian Dunkerton on a permanent basis, replacing his interim contract which was previously due to expire on 2 April 2021. As permanent CEO, Julian will build on the good progress made on the reset of the business and the brand to date, and ensure Superdry fulfils its potential as a world-class, sustainable fashion brand. He is currently the largest shareholder in Superdry plc, with a 20.3% stake.
Silvana Bonello, as Chief Operating Officer, will report directly to Julian and become a member of the Executive team. In her new role Silvana will be responsible for enhancing the effectiveness of the Company's end-to-end operations and planning processes, encompassing merchandising, logistics, IT, business transformation, sourcing processes and corporate strategy. Her proven skills across these responsibilities will allow Julian to focus on delivering the strategic plan across Superdry's product, brand and distribution channels. Sustainability will continue to be a primary area of focus for Julian and he will continue to directly oversee the progression of Superdry against its environmental and sustainability agenda.
Silvana has had an extensive international career in numerous senior operational and strategic roles in the US and the Netherlands with Nike (where she spent 18 years), and most recently as VP Operations for Vans EMEA (part of the VF Corporation). She will relocate to the UK from Switzerland and take up her new post on 1 March 2021.
Peter Williams has indicated that he will step down as Chairman in 2021, once a successor is appointed. Peter joined as Chairman in April 2019, supporting Julian's return to Superdry. Since that time Peter has played a vital role in stabilising the business, supporting the reset of the brand, and successfully overseeing the formation of a new Board and management team appropriate for the task ahead. A process to appoint a new Chair is underway.
Peter Williams, Chairman of the Board of Superdry, said:
"On behalf of the Board, I am delighted to confirm Julian's appointment as permanent CEO. Since re-joining the business last year, Julian has been driving forward the transformation of the business and resetting the Superdry brand with the launch of the AW20 range in the most challenging of times.
There remains much to do - particularly against this current backdrop - and so we are also pleased to strengthen the team further with the appointment of Silvana as COO. She brings a wealth of relevant operational and strategic experience to Superdry.
I joined Superdry as Chairman with a clear goal of ensuring a smooth transition following the change of management last year. I am proud of the progress we are making to stabilise the business and reset the Superdry brand since last April. Julian and Silvana's appointments are amongst the last steps in putting the right team together to secure the turnaround of the business. With the search for a new CFO well advanced, the completed executive team will be in place early next year and so 2021 is an appropriate time for me to step down. Superdry is a world-class brand and I am proud to have played my part in its turnaround strategy and putting the foundations in place for a more successful future."
Julian Dunkerton, Chief Executive Officer, said:
"I am delighted and excited to continue as the CEO of Superdry on a permanent basis, Silvana's appointment as COO is an important next step for the business. With Silvana joining the executive team, we now have the right operational leadership to steer the business through these most uncertain times and drive the brand reset as we seek to inspire our customers with design-led, sustainable product and engage with them through our digital channels.
Peter has been a key figure in getting Superdry back on track, and a great support to me and colleagues in the business over the past 18 months. We now have a strong Board and leadership team, and a great platform from which to continue the transformation of the business and reset of the brand. Peter leaves Superdry in a much stronger position than when we joined. For that, the Board and I are tremendously grateful, and we wish him every success in the future."
For further information:
Ruth Daniels firstname.lastname@example.org 44 (0) 1242 586747
Adam Smith email@example.com 44 (0) 1242 586747
Tim Danaher, Imran Jina firstname.lastname@example.org 44 (0) 207 404 5959
Notes to Editors
The Superdry brand is obsessed with design, quality and fit and committed to relentless innovation. We design affordable, premium quality clothing, accessories and footwear which are sold around the world. We have a unique purpose to help our consumers feel amazing through wearing our clothes. We have a clear strategy for delivering continued growth via a disruptive multi-channel approach combining Ecommerce, Wholesale and physical stores. We operate in 61 countries and have over 4,100 colleagues globally.
This announcement contains certain forward-looking statements with respect to the financial condition and operational results of Superdry Plc. These statements and forecasts involve risk, uncertainty and assumptions because they relate to events and depend upon circumstances that will occur in the future. There are a number of factors that could cause actual results or developments to differ materially from those expressed or implied by these forward-looking statements. These forward-looking statements are made only as at the date of this announcement. Nothing in this announcement should be construed as a profit forecast. Except as required by law, Superdry Plc has no obligation to update the forward-looking statements or to correct any inaccuracies therein.
The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain. The person responsible for this announcement on behalf of Superdry is Ruth Daniels, Group General Counsel and Company Secretary of Superdry.