Moss Bros finance director steps down
Wednesday 26 June 2002
Moss Bros, the beleaguered formalwear retailer that has again become the subject of takeover speculation, yesterday parted company with its finance director in favour of a turnaround specialist.
The move to replace Richard Scott, who joined Moss Bros in November 2000, completes the boardroom shake-up that has seen the menswear chain replace all of the senior executives responsible for the group's fall into the red after it flirted disastrously with casual clothing.
Roddy Murray, 41, joins from Mackays Stores, the Scottish discount retailer, where, as finance director, he helped to mastermind a four-year recovery programme. Mr Murray will receive a basic salary of £135,000 a year plus an additional 50 per cent as a performance-related bonus.
Adrian Wright, the chief executive who joined Moss Bros in March from Bluewater shopping centre, said the new team would be able "to address the critical business issues we have identified and drive improved performance".
One retail analyst expressed his surprise at the reshuffle, noting it had been Mr Scott who signalled the need to abandon Moss Bros's ill-fated attempt to enter the leisurewear market through its Code brand. "He may have been pushed," the analyst said.
A spokesman for Moss Bros said: "The next stage of Moss Bros's recovery programme [based on re-embracing its suit hire business] needed a recovery specialist."
It emerged this week that Moss Bros is being stalked by Harold Tillman, the colourful rag trade entrepreneur.
- 1 What happens to your body when you give up sugar?
- 2 Have sex with your iPad thanks to the new sex toy no-one asked for
- 3 Bali nine: Welcome to 'Execution Island' – the Indonesian holiday resort where foreigners are sent to die
- 4 The 'sex selfie stick' lets you FaceTime the inside of a vagina
- 5 Why you're almost certainly more like your father than your mother
Mark Zuckerberg: Facebook CEO's one simple test for who to hire
Bali nine: Welcome to 'Execution Island' – the Indonesian holiday resort where foreigners are sent to die
'A girl is more responsible for rape than a boy': The statement that shocked the world... except India
The 'sex selfie stick' lets you FaceTime the inside of a vagina
Saudi Arabia executions now at 'unprecedented rate' after kingdom kills four more in two days
Durham Free School: 'Creationism taught at' free school facing closure
Nearly 100,000 of Britain's poorest children go hungry after parents' benefits are cut
End of the licence fee: BBC to back radical overhaul of how it is funded
Nigel Farage promises Ukip will not 'stigmatise' would-be migrants – and says he wants 'everyone to speak the same language'
Ex-head of MI6: 'We shouldn't kid ourselves that Russia is on a path to democracy'
Most people think legal tax avoidance is just as wrong as illegal tax evasion, poll suggests
iJobs Money & Business
£8 per hour: Recruitment Genius: This Pension Specialist was established early...
£30 - 35k + Bonus & Benefits: Guru Careers: We are seeking an Executive Assist...
£25000 - £30000 per annum + benefits: Ashdown Group: A global leader operating...
Voluntary post, reasonable expenses reimbursed: Reach Volunteering: Would you ...