- Prachi Singh
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Debenhams Group has announced the appointment of Stefaan Vansteenkiste
as the company’s new Chief Executive Officer. The company said that Terry
Duddy, Chairman of Debenhams Group will step down from the board in
September. Vansteenkiste replaces Sergio Bucher, who stepped down the
position in April, after the company was put into administration.
Commenting on Vansteenkiste’s appointment, Duddy said in a statement:
“The board welcomes Stefaan’s appointment as CEO. We concluded that he is
the right person to take the business forward into the next phase of its
recovery. Stefaan has already made a strong contribution since joining
Debenhams, and has the support of our investor consortium to drive forward
our turnaround plan.”
Stefaan Vansteenkiste appointed CEO of Debenhams
The company added that Vansteenkiste joined Debenhams in April 2019 as
chief restructuring officer and has been working closely with the executive
team on a new business plan to deliver a turnaround. He is a managing
director at Alvarez & Marsal A&M) and since he joined A&M in 2003 he has
been involved in a range of turnaround situations, including CEO and other
roles at Intertoys, Vion Food Group, Diam International and Bally Shoes.
Previously, Vansteenkiste held senior management roles at theme parks Six
Flags and Taco Bell among others.
“The retail industry faces a challenging environment and everyone at
Debenhams acknowledges that. But we have a clear plan and Debenhams has a
great team of people who are committed to delivering it. | am very excited
about Debenhams’ strong prospects and with a restructured balance sheet
there is a robust platform from which to build a turnaround,” added
Vansteenkiste.
Picture:Stefaan Vansteenkiste via Debenhams
