Supergroup has hired an experienced bean-counter on to its board, perhaps in a nod to the profits warning the fashion retailer suffered in April related to “arithmetic errors”.
Minnow Powell, who served at the accountancy firm Deloitte for 25 years and is also a director at Tui Travel, is joining the owner of the SuperDry brand as chairman of its audit committee.
This follows SuperGroup’s warning of an £8 million shortfall in last year’s profits after it discovered an erroneous plus rather than minus figure in forecasts for its wholesale business.
SuperGroup has also hired Euan Sutherland, chief operating officer at Kingfisher, owner of B&Q, for its board. The new signings follow the decision by non-executives Steven Glew and Indira Thambiah to quit next year. SuperGroup, with 81 UK shops plus stores overseas, grew total revenues 20.3% to £98.4 million over the quarter to October.
