Debenhams Names New CEO As Chairman Terry Duddy Quits

Debenhams executive chairman Terry Duddy is due to step down next month as the retailer’s owners appointed turnaround specialist Stefaan Vansteenkiste as the new chief executive. Vansteenkiste was enlisted by Debenhams in April to take on the role of chief restructuring officer, but is now poised to replace Duddy next month. Duddy, whose previous roles include serving for UK giants Argos and Homebase, has been leading Debenhams after former chief executive Sergio Bucher quit when the department store retailer earlier this year. Vansteenkiste’s previous role saw him working at corporate recovery firm Alvarez & Marsal, and most recently he served as interim head of Intertoys, which operates 500 stores in Europe. Read more at Retail Gazette.