Joules has appointed Nick Jones, Asda’s commercial director as its new chief executive, the brand announced on Wednesday.

The clothing and homeware retailer said that he will be replacing outgoing CEO Colin Porter, who recently announced his departure after eight years at the helm.

Mr Jones is set to join the company towards the end of the year, and he will assume his role following a short transition period.

Ian Filby, Non-Executive Chairman, commented on the appointment:

“On behalf of the Board and everyone at Joules, I am thrilled to welcome Nick as our next CEO. Nick’s extensive retail, brand and strategy credentials, as well as a clear alignment with the Joules values, made him the outstanding candidate for the role.

Nick will join an exceptional management team and the Board has every confidence in their abilities to lead Joules through the next stages of the Group’s long-term growth and development.”

Nick Jones added:

“I am delighted to be joining Joules at such an exciting time in the company’s development. I have long admired Joules for its distinctive brand, its outstanding products and designs, and its connection with its customers.”

Joules was established in 1999 by Tom Joule. Alongside its own stores, it also has concessions in John Lewis, Next and Topshop. 

In the US, its products are also stocked in Von Maur, Neiman Marcus and Nordstrom.

It has been listed on the AIM-market of the London Stock Exchange as of 2016.

Shares in the retailer are currently trading down -0.72% as of 13:06PM (GMT).

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Nicole covers emerging global economic and political events for The UK Investor Magazine. Her focus is particularly upon company news and political developments in Europe and the US.