New Look founder Tom Singh to retire amid major boardroom reshuffle at the fashion chain
Fashion change: New Look founder Tom Singh (pictured here in 2004) has announced his retirement
New Look founder Tom Singh has announced his retirement amid a major boardroom reshuffle.
The fashion chain has upended its leadership team after completing £1.3billion in debt refinancing last month as part of its turnaround plans.
Singh who founded the firm in 1969, has grown it from one unit in Taunton, Somerset, to a brand with almost 400 stores.
Alistair McGeorge, executive chairman, thanked the 69-year-old for ‘his immense contribution to New Look over the past 50 years’.
He added: ‘His vision in pioneering ‘fast fashion’ has supported New Look’s growth from a single shop into a leader in the womenswear market.’
Singh said: ‘I’m incredibly proud of all that we have achieved at New Look over the past 50 years.’
His retirement follows the appointment of former House of Fraser chief Nigel Oddy as chief operating officer in April.
The firm has also named four non-executive directors – Angela Luger, Colin Henry, Robin Terrell and Richard Cotter – who according to McGeorge ‘bring a wealth of retail experience and expertise’.