The chief executive of clothing retailer Bonmarché, Beth Butterwick is to leave the business to join international fashion house Karen Millen.
Ms Butterwick will step down after four years with Wakefield-based Bonmarché. She will remain with the business until her successor is appointed to ensure a smooth transition.
The board of Bonmarché said it is conducting a comprehensive search for its next chief executive and that a further announcement will be made in due course.
John Coleman, chairman of Bonmarché, said: “On behalf of the board, and all our colleagues at Bonmarché, we thank Beth for her exceptional contribution over the past four years.
“She has led the business through a transformative period, through the acquisition by an affiliate of Sun Capital Partners in 2012, the IPO on AIM in 2013, and most recently the company’s transition to the London Stock Exchange’s Main Market as one of the UK’s largest women’s value retailers.”
Mr Coleman added: “Beth has imbued Bonmarché with a sense of energy and purpose, and today the business is well-placed for long-term success, with a robust balance sheet, strong management, and a carefully formulated growth strategy. We wish her all the very best for the future.”
The departing CEO said it had been a “great privilege” to lead the business.
“I would like to offer my sincere thanks for the valued support from customers, colleagues, suppliers and shareholders, throughout my time with Bonmarché,” said Ms Butterwick.
Alongside the announcement of its CEO’s impending exit, the Wakefield-based clothing retailer also provided a trading update, with expectations for the full year remaining unchanged from its interim results last month, provided trading conditions normalised for the remainder of the financial year.
Trading conditions during December, particularly since Black Friday on November 27, have been very challenging, and haven’t normalised said the group.
Beth has imbued Bonmarché with a sense of energy and purpose...John Coleman, chairman of Bonmarché