Bonmarché has confirmed that Beth Butterwick, its chief executive will step down to head up Karen Millen after four years.
Ms Butterwick will continue in her post at Bonmarché until a new chief executive is appointed to ensure a smooth transition.
Bonmarché chairman John Coleman said: "On behalf of the board, and all our colleagues at Bonmarché, we thank Beth for her exceptional contribution over the past four years. She has led the business through a transformative period, through the acquisition by an affiliate of Sun Capital Partners in 2012, the IPO on AIM in 2013, and most recently the company's transition to the London Stock Exchange's Main Market as one of the UK's largest women's value retailers.
Beth has imbued Bonmarché with a sense of energy and purpose, and today the business is well-placed for long-term success, with a robust balance sheet, strong management, and a carefully formulated growth strategy. We wish her all the very best for the future."
Bonmarché said trading conditions during December, particularly since "Black Friday" have been “very challenging and have not normalised” and are likely to continue for the remainder of the winter season.
The company has therefore revised its profit expectations for the current financial year and said that pre-tax profit is likely to range between £10.5 million to £12 million.
