Superdry PLC Statement re Chief Executive Officer (6906P)

TIDMSDRY

RNS Number : 6906P

Superdry PLC

14 October 2019

SuperdryPlc

("Superdry" or "the Company")

14 October 2019

Update on Chief Executive Officer

The Board of Superdry announces that Julian Dunkerton's contract as Chief Executive Officer ('CEO') has been extended. Having served as Interim CEO since 2 April 2019, Julian's title will now be Chief Executive Officer and his contract will run until April 2021.

Julian has agreed to continue in the role to oversee the delivery of his vision to restore the brand to its design-led roots and lead the business to sustainable growth. Today's announcement reflects the Board's unanimous view that he is the right person to lead the business through this initial crucial phase of the turnaround.

The terms of Julian's remuneration will remain as set out in the 2019 Annual Report. The Board's Nomination Committee will continue the process to find a long-term CEO successor.

Peter Williams, Chairman of the Board of Superdry, said:

"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."

Julian Dunkerton, Chief Executive Officer, 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."

 
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Notes to Editors

The Superdry brand is obsessed with design, quality and fit and committed to relentless innovation. We design affordable, premium quality clothing, accessories and footwear which are sold around the world. We have a unique purpose to help our consumers feel amazing through wearing our clothes. We have a clear strategy for delivering continued growth via a disruptive multi-channel approach combining Ecommerce, Wholesale and physical stores. We operate in 63 countries, including our development markets of North America and China, and have almost 5,000 colleagues globally.

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October 14, 2019 02:00 ET (06:00 GMT)