Debenhams confirms CEO appointment
Debenhams has appointed Stefaan Vansteenkiste as its new chief executive. With executive chairman Terry Duddy leaving the business in September having held the reins since the departure of Sergio Bucher. Vansteenkiste steps up having been with Debenhams since April in the role of chief restructuring officer.
"The board welcomes Stefaan's appointment as CEO," said Duddy. "We concluded that he is the right person to take the business forward into the next phase of its recovery. Stefaan has already made a strong contribution since joining Debenhams, and has the support of our investor consortium to drive forward our turnaround plan."
The department store chain is plannng to close almost a third of its 166 UK stores with 22 earmarked to be closed early in 2020 triggering significant redundancies.