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Dunelm CEO steps down in shock exit

Dunelm store

It has been announced this morning that John Browett, CEO of Dunelm will be leaving the business with immediate effect.

In a formal statement, Dunelm said it had made good progress over the last two years during Browett’s tenure but that the next phase of growth required “different leadership.

Dunelm chairman Andy Harrison said: "I would like to thank John for his contribution to the business and the strategic progress made under his leadership, most notably the exciting acquisition of Worldstores.

"Dunelm remains the market leader in homewares and we have ambitious and profitable growth plans to continue building the UK's biggest and best multi-channel homewares retailer. We have a strong executive team in place to make this happen, and the Board remains confident in the group's future prospects."

Dunelm has already started to look for a successor to Browett and in the meantime, Andy Harrison will provide interim executive leadership supported by deputy chairman Will Adderley, Dunelm’s and Keith Down, Dunelms chief financial officer.

In a statement, Browett said: "I am pleased to have led the development of Dunelm over the last few years and feel that we have achieved much in a challenging retail environment. It is, however, time to move onto a new challenge, and I am looking forward to the next chapter of my career."

Dunelm will be announcing their results for the financial year to 1st July 2017 on 13th September, Dunelm said the figures will be in line with the trading update issued on 7 July. It added: “Trading in the first two months of the new financial year has started positively, with an encouraging like-for-like sales performance.”

Source: Insight Team

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30 August 2017

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