SuperGroup co-founder Theo Karpathios quits

One of SuperGroup's three founders has quit the company's board eight years after helping to create the Superdry phenomenon.

Theo Karpathios was chief executive of SuperGroup's wholesale and international divisions. He owns a 14.77 per cent stake in the clothing company, worth £51m.

A spokesman for SuperGroup said yesterday Mr Karpathios had decided it was time to move on in order to pursue other interests. Although he left of his own volition he is due one-year's basic pay of £300,000 as part of his contract.

Its chairman Peter Bamford said: "Theo, as one of the founders of SuperGroup, can take significant credit for building the company into the international brand it is today and the board would like to thank him for his contribution to the development of SuperGroup on the international stage."