Bonmarché chairman Tim Mason is stepping down from his role at the value retailer and as a partner of majority shareholder Sun European Partners. He will be replaced at Bonmarché by John Coleman, former chief executive of House of Fraser.
Coleman is currently an independent non-executive director at Bonmarché and chairman of its remuneration committee. He was also previously managing director of Dorothy Perkins, Topman and Topshop.
The retailer posted a 4% rise in like-for-like retail sales for the year to March 28,although like-for-like sales dropped 4.7% during the fourth quarter.
Michael Hayes Kalb, who is senior managing director at Sun European Partners and has been working with Bonmarché since its initial acquisition by Sun, has joined the board as a non-independent, non-executive director.
Bonmarché chief executive Beth Butterwick said: “We are delighted that John has assumed the role of chairman. His experience as a non-executive director of the company, coupled with his impressive track record in the retail sector, will serve us well. I would also like to welcome Michael to the Bonmarché board, and look forward to working with him.”
“I would like to take this opportunity to thank Tim. As chairman since 2013, he has made an invaluable contribution to the business, before and during the IPO process, and as a public company, and we would like to thank him for his guidance.”