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Office appoints new owner’s CEO as director

Office has appointed the chief executive of its new owner, South African fashion retailer Truworths International, as a director.

Michael Mark has been chief executive of Truworths since 1991, after joining the firm in 1988 as a director.

Private equity firm Silverfleet Capital sold Office to Truworths for £256m in November 2015. It had owned Office since December 2010.

The £256m price tag was below the £300m valuation reported when Office was tipped for a flotation last year.

However, Silverfleet described it as a “great deal”, which is more than three times what it paid for the retailer five years before.

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