Tesco UK boss appointed chairman of Simply Be and Jacamo owner N Brown
Matt Davies is currently the UK chief executive of Britain’s biggest supermarket.
The architect of Tesco’s UK revival has bagged a top-level role at plus-size clothing retailer N Brown.
Matt Davies, the UK chief executive of Britain’s biggest supermarket, is joining the owner of Simply Be and Jacamo as chairman and non-executive director.
The retail veteran will take a position on the board with immediate effect, before stepping up to the chairman role on May 1.
The move will spark the end of Andrew Higginson’s five-year tenure as chairman of the high street retailer.
Mr Higginson said: “Matt is a first-class retailer and brings a wealth of experience to the group.
“He has a proven track record of value creation across retail and online through his roles as CEO of Tesco UK and Republic of Ireland and as CEO of Halfords and Pets at Home.
“It has been a privilege to chair the company through the past five years, and I wish the business every success in the coming years.”
Mr Davies, who leaves Tesco after three years in the role, was CEO of Halfords and Pets at Home between 2012/15 and 2004/12 respectively.
Ron McMillan, N Brown’s senior independent director who led the selection process, said: “Having conducted a thorough process it was clear that Matt was the best fit to be our next chair.
“He has huge experience of retail and online businesses and will be a strong addition to the N Brown board, bringing knowledge, leadership and customer focus.”
N Brown saw its shares plunged more than 14% last month as investors fretted over the impact of promotional sales on the retailer’s margins.
The firm reported a 3.2% rise in group revenue over the 18 weeks to January 6, marking a slowdown from the 4.1% increase logged a year earlier.