Shoe Zone makes Charles Smith permanent Chairman
Value footwear retailer Shoe Zone has confirmed Charles Smith as its permanent Chairman. Smith is already a board member and major shareholder of the retail giant with a 22.2% stake in the business.
Having been COO since 2014, when the company first listed on the stock exchange, he was appointed interim Chairman last August at the same time as underperforming CEO Nick Davis left the company with immediate effect.
Following his latest appointment, the company said the board will now be made up of three executive directors and three non-executive directors.
The company, whose shoes sell for an average price of £10, is the biggest retailer of its type in Britain and has faced tough times in recent periods, despite its value positioning that would have been expected to carry it through a difficult economic environment.
Earlier this month, the firm reported sluggish sales and lower profits. But its turnaround is continuing and its move to big-box store and ‘hybrid’ locations is yielding results and its management remains upbeat on its future prospects.
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