Superdry in chaos as co-founder returns
UK clothing firm Superdry’s board of directors has resigned following the re-election of the brand’s co-founder Julian Dunkerton to the board.
Dunkerton was made interim CEO following the immediate resignation of the four board directors and notice given by four non-executive directors in protest of the reappointment, blaming the former board member for the firm’s poor financial performance. Superdry brokers UBS and Investec have also resigned.
Dunkerton has been publicly critical in recent months of the firm’s management following his departure a year ago.
The co-founder was reinstated after a slim majority vote of 50.75 per cent. Former Boohoo and Selfridge’s boss Peter Williams has been appointed the firm’s new chairman based on a 50.74 per cent vote.
“We are very pleased to be joining the board of this great British company,” said the two appointees in a joint statement. “We look forward to rebuilding the Superdry brand and the business.”