Fenwick’s chief executive, Robbie Feather, and non-executive chairman, Richard Pennycook, have both stepped down from the board, as the Fenwick family seeks to take back more control of the business.
Feather, the retailer’s first non-family CEO, will be replaced by John Edgar, former CFO at Harrods and Selfridges. There will be a handover period of a month to ensure a “smooth transition”. Pennycook will be replaced by Steve Barber, a current non-executive director, on an interim basis.
Andy Doyle, non-executive chair of the remuneration committee, is also stepping down from the board.
Fenwick said the changes will “bring the family closer to the running of the business and slim down the board, which, in the current climate, is the right decision now and for the longer term”.
A Fenwick family spokesperson said: “We would like to thank Richard for his guidance during his time as chairman, and to thank Robbie for all his leadership and dedication in driving the most ambitious transformation in Fenwick’s history. We much appreciate Andy’s contribution to the board also. This is an unprecedented time for the retail sector, and we are pleased to welcome John Edgar as Fenwick’s new chief executive. We look forward to working closely with John and the whole team to help guide Fenwick through this incredibly challenging time.”