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New Look's UK & ROI managing director departs

Lauretta Roberts
09 February 2018

New Look has parted company with Danny Barrasso, its managing director for the UK and Republic of Ireland, who will be leaving the challenged high street fashion retailer today (9 February).

He will be replaced by Mark Axon, who joins the company on 19 February, and who previously had a stint with New Look from 2012 to 2014. This is the second time in the last few months that New Look has drafted back past executives as it seeks to reverse its fortunes.

Last November Alistair McGeorge was brought back as chairman having previously served as executive chairman from from May 2011 to September 2013 then becoming non-executive chairman until 2014 when he left the business. Barrasso had been acting as chief executive prior to McGeorge's arrival following the departure of former CEO Anders Kristiansen last September.

McGeorge said of the recent change: "On behalf of the Board and our colleagues, I would like to thank Danny for the significant contribution he has made during his five years at New Look. We wish him well for the future.

“We look forward to welcoming Mark back to the business. Mark brings a wealth of retail expertise and his prior experience at the company will be valuable as we rebuild our position within the UK market.”

Axon had been retail operations director and then sales director for the UK and ROI during his prior stint at New Look and his CV also includes roles at Marks & Spencer, George at Asda, B&Q and Game.

New Look posted a trading update earlier this week that showed overall group revenue was down -6.3% at £1.07bn in the nine months to 23 December. UK like-for-likes were down 10.7% and own website sales sunk by -15% with third-party website sales being the only bright spot, up 21.9%. Underlying operating loss for the period were £5.1m while losses before tax hit £123.5m.

The business is undertaking a review and is believed to be considering the closure of up to 60 of its stores. In addition to Barrasso's departure it was also revealed that Sven Gaede, managing director of the international division, will also leave the retailer this month. Dan Monaghan, group operations director, will take responsibility for the China business while Russell Harrison, who has been heading up the retail team in the UK & ROI for the past year, has been promoted to finance director.

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