The former boss of Tesco PLC’s (LON:TSCO) UK division is to become chairman of fashion retailer N Brown Group PLC (LON:BWNG).
Matt Davies will join N Brown on May 1 when Andrew Higginson retires from top job after five years at the company.
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Shares in N Brown rose 2% to 192.8p in late morning trade.
Davies was replaced at Tesco earlier this month by Booker Group chief executive Charles Wilson following the supermarket’s £3.7mln merger.
He became head of Tesco UK in 2015 – in the wake of the company’s accounting scandal – after serving as chief executive of retailers Pets at Home Group PLC (LON:PAHL) and Halfords Group plc (LON:HFD).
He joins N Brown during a difficult period for UK high street retailers, which are tackling the rise of online rivals and a slowdown in consumer spending.
The company cut prices at the end of last year in an effort to lure in customers who have been squeezed by higher inflation.
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The appointment of Davies follows the announcement of three new additions to the executive team earlier this month, including a chief people officer, a director of supply chain and a chief information officer.