Superdry is experiencing significant executive changes as it navigates a crucial restructuring phase.
- Craig McGregor, the chief commercial officer of Superdry, is stepping down as the retailer prepares for restructuring.
- McGregor’s departure follows the exit of chief financial officer Shaun Wills in March.
- Giles David has been appointed interim CFO, and Dafydd Moore is the new technology director.
- The restructuring plan, aiming to reduce store footprint, awaits court approval in mid-June.
Superdry is undergoing pivotal changes in its leadership as it moves through a critical restructuring phase. Most notably, Craig McGregor, the company’s chief commercial officer, is stepping down from his role. This decision comes at a time when the retailer is awaiting court approval for its proposed restructuring plan, which was detailed recently. The plan aims to significantly reduce Superdry’s store footprint in a strategic move designed to avoid administration, reflecting the company’s proactive approach to adjusting its business model to changing market conditions.
McGregor joined the company in March 2020 as global retail director, quickly advancing to global commercial director in November 2022, and then taking on the role of chief commercial officer in January 2024. His background includes significant retail experience, having worked with prominent brands such as Wilko, Specsavers, and Topshop, where he was instrumental in leading store strategies across multiple regions, including the UK, US, and Europe.
The changes in Superdry’s leadership follow the departure of Shaun Wills, the former chief financial officer, who exited the company at the end of March. In his place, Giles David, the former CFO of McColl’s, has been appointed as the interim CFO. These shifts are indicative of a broader strategy to stabilise the company’s financial standing and ensure its long-term viability through this restructuring.
In addition to these departures and appointments, Superdry has stated that there are no further leadership changes anticipated at this stage, save for the arrival of Dafydd Moore as the technology director. Moore joined from Halfords, where he served as the group director of IT strategy and architecture. This appointment is seen as a strategic addition to bolster Superdry’s digital and technological capabilities, which are increasingly critical in today’s retail environment.
The restructuring plan, which is focused on safeguarding the future of the retailer, is set to be reviewed in a sanction hearing scheduled for 17 and 18 June. Superdry’s statement emphasises their commitment to this restructuring initiative while maintaining discretion about individual personnel matters, underscoring a careful navigation of both internal and external challenges.
Superdry’s leadership changes and restructuring plans are pivotal steps towards securing its future stability and growth.
