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Finance director Roy Naismith leaves French Connection after 12 years

French Connection group finance director Roy Naismith has stepped down from the high street retailer after 12 years.

Naismith, who joined French Connection in January 2001, has stepped down from the board with effect from today.

The chain is now looking for a replacement and expects to make an announcement on this “in the near future”.

Chairman and chief executive Stephen Marks said: “Roy has been a key member of the French Connection team for a considerable period of time. He has also been instrumental in providing strategic insight on the implementation of our recent initiatives, which are beginning to show progress.”

He added: “With these measures now in place, Roy has decided that now is the right time for him to step down.  French Connection is extremely grateful for Roy’s dedication and hard work and wishes him well in his future.”

Last year the retailer announced it was to review its retail operations after profits fell.

French Connection made a pre-tax loss of £7.2m over the year to January 31, 2013 – but maintained a strong net cash position. The premium retailer saw revenues drop by 8% to £197.3m last year from £215.4m in the previous 12 months.

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