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Debenhams restructuring officer to take top job

Debenhams is reportedly set to announce Stefaan Vansteenkiste as its new CEO, as chairman Terry Duddy steps down.

Vansteenkiste has been Debenhams’ chief restructuring officer since April, and Sky News said he would be announced as the department store’s new CEO this week. The appointment comes following weeks of speculation over who would take the top job at the retailer as it continues its efforts to turn around the business.

Vansteenkiste would replace former CEO Sergio Bucher, who left Debenhams in April after the retailer entered into a pre-pack administration, and chairman Terry Duddy became interim chief executive.

Duddy replaced former chairman Sir Ian Cheshire, who was voted off the Debenhams board by shareholders, including Mike Ashley, in January. It is thought that Duddy will step down.

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