Laura Ashley’s finance director and joint chief operating officer, Sean Anglim, has stepped down after more than two decades at the business.
Anglim joined Laura Ashley in 1998 as group financial controller. He assumed the role of finance director and joint chief operating officer in 2005.
He will remain with the company until the end of the year, when he will also rescind his role as executive director. Group financial controller, Sagar Mavani, will replace Anglim as chief financial officer.
In a statement, Laura Ashley said: ”The board would like to take this opportunity to thank Mr Anglim for his contribution during his tenure with the company and to wish him the very best for the future.”
Laura Ashley’s profits fell in its full-year results to 30 June 2019. The lifestyle retailer reported a statutory loss before tax of £14.3m for the 52 week period and total group sales fell by 9.6% to £232.5m.
However, fashion sales rose by 9.2%, and chairman Andrew Khoo told Drapers that Laura Ashley will now extend its fashion offering to a younger demographic “by way of collaboration, capsule collections or launching a new sub-brand”.