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Debenhams’ CEO is throwing in the towel

Debenhams’ CEO is throwing in the towel

October 22, 2015

Via: itCurated
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The boss of struggling department store Debenhams is leaving after 5 years in the job, bowing to pressure from investors.

Debenhams announced today that Michael Sharp has told the board to start looking for a successor, as we will leave sometime next year. Sharp has been CEO since 2011.

Sharp and chairman Nigel Northridge have been facing pressure from a group of high-profile shareholders including Cenkos, Milestone Resources, Schroders, and Old Mutual, City AM reports. The group looking to oust the leadership holds a collective 25% of Debenhams shares.