Fortnum & Mason boss Aspinall quits
Tuesday 17 April 2012
The boss of Fortnum & Mason has quit after seven years in the job "to pursue other challenges".
Beverley Aspinall, pictured, stands down as chief executive of the 305-year-old store at the end of May.
The surprise move comes a year after the Piccadilly institution was occupied by UK Uncut protesters against corporate tax avoidance.
The 52-year-old, who started her career at John Lewis and is one of London's best-known female retailers, said: "I feel the time is right to move to new challenges."
Retail experts said it was likely she had been lined up for a bigger job in the industry.
Ms Aspinall was recruited in 2005 from Peter Jones, where she managed a £100m overhaul, to turn around a store that was seen to have lost its way and had fallen into the red.
She spent £24m on a major makeover that included the creation of a new central atrium in time for its tercentenary celebrations in 2007.
In 2005, the year she took over, Fortnum's made a pre-tax loss of £1.2m on sales of £39m. By last year this had been turned round to a pre-tax profit of £1.1m on £55m turnover.
- 2 Mystery man who gave mum heart-warming note on train 'wanted to put a smile on her face'
- 5 Amal Clooney gives excellent answer to fashion question at European Court of Human Rights
King Salman: Just five days in, Saudi Arabia's new king has already overseen a beheading
Mystery man who gave mum heart-warming note on train 'wanted to put a smile on her face'
Michelle Obama highlights harsh restrictions faced by Saudi women after meeting King Salman without wearing a headscarf
Amal Clooney gives excellent answer to fashion question at European Court of Human Rights
Mafia's wall of silence broken: Victim of Cosa Nostra's extortion rackets in its Corleone heartland co-operates with authorities for the first time ever
'We would evict Queen from Buckingham Palace and allocate her council house,' say Greens
French court convicts three over homophobic tweets, in case hailed as a 'significant victory' by LGBT rights campaigners
Greece elections: Syriza and EU on collision course after election win for left-wing party
British Muslim school children suffering a backlash of abuse following Paris attacks
British grandmother Lindsay Sandiford faces execution by firing squad in Indonesia
Liberal Democrat minister defends comments suggesting immigration causes pub closures
iJobs Money & Business
£23000 - £26000 per annum + Benefits: Ashdown Group: Market Research Executive...
£25000 - £35000 per annum: Recruitment Genius: A Technical Report Writer is re...
Competitive salary & benefits!: MBDA UK Ltd: MBDA UK LTD Indirect Procurement...
£16500 - £16640 per annum: Recruitment Genius: This fast growing Finance compa...