Alistair McGeorge is stepping back as executive chairman of New Look with immediate effect, taking on a non-executive role instead.
McGeorge, who has been at the business in 2011, completes the handover of his executive responsibilities to chief executive Anders Kristiansen, who joined New Look in January.
The changes, which will see McGeorge remain on the board as non-executive chairman, take place from today (October 1).
McGeorge said: “Since joining New Look, two and a half years ago, I’ve been working towards re-shaping New Look’s strategy and trading model, and improving the financial performance of the business.
“We have already made substantial progress against these objectives and under the leadership of Anders I am confident that New Look will continue to thrive as it moves forward to becoming the successful International brand that it deserves to be.”
Kristiansen described the process as a “seamless handover”.
He added: “The business is now back in good health and on behalf of the board I would like to thank Alistair for the fantastic job that he has done since joining New Look.
“I’m truly excited about the opportunities ahead and look forward to the continued support of such an experienced chairman.”