N Brown’s chairman Andrew Higginson is reportedly planning to step down after almost five years at the company.
Higginson wants to pursue new opportunities in private equity, The Financial Times has reported.
He will remain in the business until a replacement has been found.
N Brown chief executive Angela Spindler said: “I would like to thank Andy for his support and advice since my appointment as CEO almost four years ago. Andy has led the group during a period of significant transformation and his dedication and insight have made a significant contribution to this process.”
In the year to 4 March N Brown Group’s adjusted profit before tax fell 8.7% to £80.6m as it invested in improving its offer to drive future growth. Group revenue was up 2.5% to £887.7m, with product revenue up 3.4% and financial services revenue up 0.4%. Online revenue was up 10% year on year, with 71% of all traffic coming from mobile devices.