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Alistair McGeorge to step down from Matalan

Matalan chief executive Alistair McGeorge is to stand down amidst a raft of boardroom changes at the value retail giant.

McGeorge’s departure comes just months after a refinancing of the business that enabled founder John Hargreaves to pay himself a £250m dividend following a failed attempt to sell the 205-store chain.

Industry sources told Drapers it was possible McGeorge would take a non-executive role at Matalan, potentially succeeding incumbent chairman John Mills. Finance director Paul Gilbert is tipped as a potential successor to McGeorge, but an external search is also under way.

Matalan’s retail director Amin Kassam is also understood to have left the retailer. The circumstances of his departure are unknown.

In August Matalan’s buying director John Lyttle quit to join Primark as chief operating officer. He is due to start on November 15.

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