Your browser is no longer supported. For the best experience of this website, please upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

Former Sports Direct CFO joins Ted Baker

Ted Baker has appointed former Sports Direct chief financial officer Jon Kempster as an independent non-executive director. 

Kempster has been a non-executive director and audit committee chair at IT service management company Redcentric since January 2017 and is a trustee of the Delta pension scheme.

The chartered accountant was CFO and executive director at Sports Direct from September 2017 to July 2019. 

Kempster will assume the role of chair of the audit and risk committee at Ted Baker and join the remuneration committee, effective immediately.

The appointment comes after the resignation of Ted Baker’s CEO, Lindsay Page, and executive chairman, David Bernstein, alongside a further profit warning last week. 

The business now says it now expects pre-tax profits for the year to January 2020 to be between £5m and £10m.

It was the latest in a string of profit warnings for the retailer this year, which swung to a pre-tax loss of £23m for the 28 weeks to 10 August 2019. It made a profit of £24.5m during the same period in 2018.

Earlier this month, Ted Baker appointed consultancy firm Alix Partners to conduct an in-depth review of its operations, and is also conducting an independent review into an error which resulted in it overstating the value of its inventory by up to £25m.

Ted Baker also announced today that Ron Stewart has stepped down as non-executive director of Ted Baker, latterly as senior independent director, after nine years. Helena Feltham has assumed the role of senior independent director.


Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.