Retail appointments

Mirvac drops two board members

ASX-listed real estate group Mirvac has announced that John Peters and Elana Rubin will step down from its board, following the November 19 annual meeting. 

The moves are part of the company’s board renewal process and follow the appointments of Jane Hewitt and Peter Nash to the board last year.

Rubin joined the board in 2010 and Peters in 2011. Rubin has also been on the audit, risk and compliance committee.

Greg Miles to retire from Scentre Group

Scentre Group’s Greg Miles (pictured) is stepping down from COO role in preparation for his retirement next year, after more than 23 years with the owner and manager of Westfield shopping centres.

Miles is the second major exit announced at Scentre in recent days, following the decision by its chief strategy officer Cynthia Whelan to leave.

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In some parting words to the Australian Financial Review, Miles said that he believes there needs to be more integration between physical and online, and that retailers were now working through that process. He suggested that there would be a widening gap between successful and unsuccessful retailers, as better sales would lead to more investment.

CFO to depart Marks and Spencer

Marks and Spencer CFO Humphrey Singer will leave the UK clothing, homewares and food company on December 31, a departure that was originally announced more than a month ago.

According to The Times newspaper, Singer was pushed out by chairman Archie Norman over a botched £600 million ($1.2 billion) rights issue that blindsided investors and caused the retailer to drop out of the FTSE 100.

The company has not yet appointed a new finance chief and a company spokesman declined to speculate on who would succeed Singer.

M&S has been going through ructions at the executive level in recent months, including the sacking of clothing, home and beauty managing director Jill McDonald in July, after which CEO Steve Rowe took direct control of the division.

Long one of the biggest names in British retail, 135-year-old M&S has struggled to compete effectively on clothing with the likes of Zara and H&M.

Laura Ashley CFO to leave

UK clothing and furnishing retailer Laura Ashley has named Sagar Mavani as its CFO, replacing Seán Anglim who has been with the company since 1998.

Anglim, who is also joint COO, will step down by the end of the year. Mavani joined the company as group financial controller last year.

The appointment comes at a time when the company is struggling with poor performance in its home furnishings business and a decline in online sales. It reported a full-year pretax loss of almost £10 million ($19 million) earlier this year.

Along with much of Britain’s retail sector, sales at Laura Ashley have been hit by store closures and a dampening consumer mood. It also suffered the termination of a licence agreement with a Japanese partner in 2018. 

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