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Superdry founder Julian Dunkerton named as permanent CEO

By Huw Hughes

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Report

Superdry has confirmed Julian Dunkerton will remain CEO until April 2021 as he moves forward with plans to turn the company around with “a focus on its design-led roots and strengthening the retail basics.”

In April, Dunkerton returned as interim-CEO of the company he founded after narrowly winning a vote by shareholders. The move resulted in Superdry’s then-CEO Euan Sutherland, chairman Peter Bamford, chief financial officer Ed Barker, and chairman of the remuneration committee Penny Hughes all resigning from the company’s board.

Commenting on the news in a statement, Dunkerton said: "I'm pleased that the board has asked me to continue in the CEO role for this important phase of the turnaround. Since I have returned to the business full-time, I have been working with the team to put in place the plan that will turn around Superdry, with a focus on its design-led roots and strengthening the retail basics.

"We are already seeing early signs of progress and while this will take time, we are excited to realise the brand's full potential. As CEO I am fully committed to working with the board and everyone in the business to deliver this change over the months ahead."

For the year ended 27 April, Superdry reported a pre-tax loss of 85 million pounds, while total group revenue was flat at 871.7 million pounds.

Since returning, Dunkerton, who is the group’s biggest shareholder with an 18.5 percent stake, has begun his attempt to turn the struggling retailer around. His new multifaceted strategy includes cutting childrenswear, pulling out of a footwear licensing deal with Pentland Group, and increasing the British brand's number of products.

Peter Williams, chairman of the board of Superdry, commented: "The board is delighted that Julian has agreed to continue in the role as CEO through to April 2021. Julian has a clear vision and his creativity, ambition and leadership will be crucial for the turnaround of the business. As interim CEO, Julian has already been working closely with the team to execute this plan and while much remains to be done, the necessary foundations are being laid. I am looking forward to working alongside Julian during this period as we seek to identify his long-term successor."

Photo courtesy of Superdry, St David’s

Julian Dunkerton
Superdry