BUSINESSDESK: Postie Plus Group says chief executive Ron Boskell will step down in January after seven years leading the clothing retailer.
Mr Boskell is leaving "to make way for further renewal in the management team" as it works to extend the Postie brand and looks at acquisitions, the company says.
"The right time to leave is with the transformation of the retail chain into a modern, exciting retailer well advanced," Mr Boskell says.
He is currently overseeing the relocation of the company's headquarters to Auckland from Christchurch to be closer to customers and growth markets, and completing a restructure of the executive leadership team.
The shares last traded on the NZX at 22 cents and have fallen 15% this year.
In May, the company disclosed it was in breach of a banking covenant under its arrangements with Bank of New Zealand, the same month as shareholders approved the sale of its Babycity chain.
First-half sales fell 4.6% to $54 million, resulting in a small net loss.
This article is tagged with the following keywords. Find out more about MyNBR Tags
Most listened to
- Tim Hunter on why Veritas is doing it the hard way
- Matthew Hooton on whether Steven Joyce will be the next national leader
- Rodney Hide on why all city planners should be fired
- Nevil Gibson discusses his latest Editor's Insight on films
- The NBR crew throw around some of the week's top stories
- Rob Hosking breaks down the political and economic week that was
- "A tragedy" - David Farrar on his disappointment with Simon Bridges
- New F&P product pipeline exciting, says Macquarie senior investment adviser Brad Gordon
- Taupo Motorsport Park executive director Tony Walker on the park's rebranding
- NZIER senior economist Christina Leung on why she does not think the OCR will hit 2%
- NBR's Cameron Officer talks about the NBR Car of the Year 2015
- John Barnett on Brewer: ‘Boy, has he got a bit to learn’