Hardware chain Halfords (LON:HFD) have announced that CEO Jill McDonald will be stepping down from her role at the end of October, in order to become a Managing Director at Marks & Spencer.
McDonald has resigned from her role but will sit out her six month notice period, before moving to the British department store giant Marks & Spencer to head up the clothing, home & beauty department.
In a statement, the Board said it had begun the process of finding her successor. On behalf of the Board, Dennis Millard said: ”
We are grateful to Jill for the positive impact she has made across the business. She will leave Halfords with a strong team and a clear strategy to drive future growth. The Moving Up A Gear strategy is well underway and is delivering significant momentum across the organisation. We all look forward to continuing to work with her over the next few months and she will leave with our best wishes for the future.”
The appointment comes after months of searching at Marks & Spencers for a new boss of the clothing and homeware division, replacing Steve Rowe, who became CEO last year. The MD of M&S clothing is not likely to be an easy job, and the section has struggled to increase sales for several years.
Shares in Halfords fell 2.85 percent this morning to 364.10 (1306GMT).