Former Asda executive to be Matalan's new chief
Tuesday 12 April 2011
The discount fashion retailer Matalan is poised to hire Darren Blackhurst, a former executive at Asda, as its new chief executive.
Matalan told its bondholders on1 April that it had agreed in principle contractual arrangements with Mr Blackhurst to be the 209-store retailer's chief executive.
The retailer has been trying to fill the role since Alistair McGeorge, the former chief executive, stepped down last September. Matalan declined to comment yesterday.
Mr Blackhurst is set to take over at Matalan on 9 May. For the former chief merchandising officer at Asda who left the grocer in May 2010, the role at Matalan would mark a sensational return to retail.
He had been a leading candidate for the top job at the Walmart-owned supermarket chain but left after Asda instead chose Andy Clarke to be its chief executive.
The appointment of Mr Blackhurst would be the latest changing of the guard at Matalan, which is 100 per cent owned by founder John Hargreaves and his family.
In December, Matalan said it had hired Adrian Mountford, the former head of general merchandise at Sainsbury's, as its commercial director.
Paul Gilbert, Matalan's finance director, has been its acting chief executive since Mr McGeorge left.
Matalan pulled a £1.5bn sale of the business in February 2010 after private equity firms baulked at the lofty price tag. In its most recent annual report, Matalan lifted underlying operating profit by 30 per cent to £132.9m for the year to 27 February 2010. More recently, the retailer suffered a 4.5 per cent fall in like-for-like sales for the 19 weeks to 8 January.
In a separate development in UK non-food retailing, Tesco has promoted Terry Price to lead its UK general merchandise operation. Mr Price joined Tesco in 2003 and has played a leading role in the development of the grocery giant's business in China.
- 2 Harry Potter fans can apply to the Hogwarts-inspired College of Wizardry
- 3 Jessica Chambers: 19-year-old woman 'doused with lighter fluid and burned alive' in the US
- 4 Russell Brand calls Nigel Farage 'poundshop Enoch Powell' in BBC Question Time debate
- 5 Orange Wednesdays are no more
Weather bomb in pictures: Storms cuts power for tens of thousands – and snow is on the way
Jessica Chambers: 19-year-old woman 'doused with lighter fluid and burned alive' in the US
Russell Brand calls Nigel Farage 'poundshop Enoch Powell' in BBC Question Time debate
Russell Brand was rendered speechless on Question Time by this man
Fury at Airbus after it hints the super-jumbo may be mothballed
Nigel Farage: Me vs Russell Brand on Question Time – he's got the chest hair but where are his ideas?
Shock poll shows voters believe Ukip is to the left of the Tories
Disgruntled RBS worker writes hilarious open letter to Russell Brand after anti-capitalist publicity stunt leaves him hungry
New era of cheap oil 'will destroy green revolution'
Ukip founder Alan Sked and Nigel Farage 'begged Enoch Powell to stand as a candidate'
Ukip candidate jokes about 'shooting peasants' in racist and homophobic rant
iJobs Money & Business
£40000 - £470000 per annum + bonus: Ashdown Group: Java Developer / J2EE Devel...
£45000 - £55000 per annum + Benefits: Ashdown Group: An exciting opportunity h...
$125 - $175 per annum: Carlton Senior Appointments: Senior Wealth Manager In...
$200 - $350 per annum: Carlton Senior Appointments: Managing Producer Office...