Manju Malhotra is set to step down from her role as Harvey Nichols’ CEO after 25 years with the business.
Malhotra, who took on the role in January 2020, is to leave the company at the end of this year. Pearson Poon, executive director of Harvey Nichols’ parent company Dickson Concepts, will oversee the business as vice chairman until a new CEO is found.
In Hong Kong, Poon was behind the digital evolution of the Harvey Nichols business, with the world’s first blue-chip non-fungible tokens (NFT) retail concept space and the revamp of Harvey Nichols’ beauty loyalty program in the city.
“Manju was instrumental in driving Harvey Nichols through the unprecedented times of a global pandemic and temporary store closures, laying out strong foundations which we will continue to build on for the future,” the company said.
The Telegraph said her departure comes after “a clash with the luxury retailer’s Chinese owner Dickson Poon over her plans for the business”. The source said while she was seeking “significant changes” to spur growth for the loss-making business, Dickson Concepts believed the business is successful and the existing strategy is working.
In an email to Inside Retail, a London-based spokesperson for the company denied there was a rift.
“Manju made the decision to leave on amicable terms and is working up until the end of the year to ensure everything goes as smoothly as possible,” said the spokesperson. “A clash between Manju and the owner is categorically untrue.”
The British department store business reported a £30 million loss (US$38 million) for the year ended May 2022 compared to £2.7 million profit in 2020.
