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Moss Bros chairman resigns

Moss Bros non-executive chairman David Adams has resigned from the menswear business.

Adams, formerly finance director and deputy chief executive of House of Fraser, joined the board of Moss Bros in July 2008 and will leave on March 25. In January group finance director Michael Hitchcock said he would step down on April 30.

Since joining Moss Bros Adams has helped to steer the menswear business through a period of radical change. In November 2008, Arcadia boss Sir Philip Green bought the 28% stake owned by now-collapsed Icelandic investor Baugur before selling it to menswear supplier Simon Berwin for £7.7m the next month. In March last year, it appointed former SRG chief Brian Brick as chief executive.

Moss Bros said today in a Stock Exchange announcement that Debbie Hewitt, who joined the company as a non-executive director in June, will become interim chairman of the company. She and Brick are looking for a new chairman.

Moss Bros added in the statement that trading had continued to strengthen on the prior year, with sales growth “improving on a like-for-like basis and a positive cash position with no long term debt”.

Brick said: “I would like to thank David for his support and the positive contribution he has made to the business and wish him well for the future.  I look forward to working closely with Debbie in the interim period; her leadership and experience of working on public company boards will be of great value to the board and the business.”

The company will announce its preliminary results on March 25. 

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