Harrods Managing Director to step down

Michael Ward, current managing director at Harrods, is set to step down from his role and exit the company this summer.

According to reports from Sky News, Ward will be leaving his position after a decade at the head of one of the world's most iconic department stores. An announcement concerning his impending exit is said to have been made internally to Harrods staff on Thursday evening.

It remains unclear if a successor has already been found to take over the reigns at Harrods following Ward's exit. Ward, a former executive at Apax Partners, first joined the team at Harrods in 2006, when it was under the ownership of Mohamed Al Fayed. In 2010, the department store was acquired by Qatar Holdings for 1.5 billion pounds.