Superdry said on Monday that founder Julian Dunkerton will continue as the fashion retailer’s Chief Executive Officer.
Shares in Superdry (LON:SDRY) were up during trading on Monday morning.
Indeed, founder of Superdry Julian Dunkerton’s contract as Chief Executive Officer has been extended until April 2021, the company said in a statement.
Earlier this year, Superdry asked its shareholders to reject Julian Dunkerton’s pledge for a seat on the company’s board after he stepped back from the company a year ago.
However, Julian Dunkerton made a return to the company, causing most of its board members to quit and with top executives among the board members who left their positions.
“Julian has a clear vision and his creativity, ambition and leadership will be crucial for the turnaround of the business,” Peter Williams, Chairman of the Board of Superdry, said in a company statement.
“I am looking forward to working alongside Julian during this period as we seek to identify his long-term successor,” Peter Williams continued.
“I’m pleased that the Board has asked me to continue in the CEO role for this important phase of the turnaround,” Julian Dunkerton, Chief Executive Officer, commented on the announcement.
“Since I have returned to the business full-time, I have been working with the team to put in place the plan that will turn around Superdry, with a focus on its design-led roots and strengthening the retail basics,” Julian Dunkerton continued.
“We are already seeing early signs of progress and while this will take time, we are excited to realise the brand’s full potential. As CEO I am fully committed to working with the Board and everyone in the business to deliver this change over the months ahead,” Julian Dunkerton said.
In June, the company delayed the release of its annual results.
Shares in Superdry plc (LON:SDRY) were trading at +1.52% as of 10:24 BST Monday.