Ever-acquisitive Subsequent must beef up its board, the style retail large has admitted. So it has appointed “completed enterprise chief” Venetia Butterfield as an unbiased non-executive director with impact from 2 April.
Butterfield is Managing Director of Cornerstone, the biggest grownup division of Penguin Random Home. Beforehand, she was writer of Penguin Normal and managed the Viking, Penguin Enterprise and Penguin Life imprints.
And the brand new appointment can be right down to her “expertise as a advertising skilled”, the retailer stated.
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It added that her “profitable management of an unbiased enterprise inside a bigger conglomerate shall be significantly useful as Subsequent steadily will increase the variety of companies it takes on inside the group by its Whole Platform initiatives”.
Upon appointment, Butterfield will turn into a member of the Nomination, Audit and Remuneration Committees.
Final October, the ever-expanding style, homewares and sweetness retailer turned the brand new proprietor of the FatFace style model, buying the enterprise for a complete fairness worth of £115.2 million.
In September it additionally boosted its management of style label Reiss, shopping for a sizeable holding from its fellow proprietor, the American funding firm Warburg Pincus for £128 million ($162 million) to extend its possession to 72% from 51%. And in March, it bought the Cath Kidston model out of administration for round £8.5 million.
