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Laura Ashley CEO to retire

Laura Ashley has announced its CEO and executive director Kwan Cheong Ng will retire on 30 April.

Ng will remain on the board as a non-executive director after his retirement. 

Laura Ashley’s current chief operating officer Katharine Poulter will succeed Ng as CEO and executive director with effect from 1 May. 

Poulter has 25 years of retail experience with companies including Marks & Spencer, Home Retail Group and Tesco. 

The news comes after Laura Ashley’s finance director and joint chief operating officer, Sean Anglim, stepped down after more than two decades at the business in October. 

In its latest results, Laura Ashley reported a statutory loss before tax of £14.3m for the 52 weeks to 30 June 2019, down from a profit of £100,000 in 2018. The lifestyle retailer blamed poor online performance and under performing homeware - and said going forward it plans to extend its fashion offering to a younger demographic.

 

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