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
- Big Food backs changes to s.36 of Commerce Act to curtail power of big supermarkets
- Companies Office rejects NZ First complaint over Silver Fern deal
- Light rail the winner in latest Auckland Transport turnaround
- New data series shows 5.2% of NZ households owe more than they own
- CBL attracts new business on back of the Brexit
Most listened to
- BNZ's Jason Wong says the movements in the currency market last week were some of the biggest in history
- CBL's Peter Harris on uncertain times in the UK insurance industry
- Govt performing an awkward political U-turn on foreign trusts. Rob Hosking with John Shewan and John Key
- Trade Minister Todd McClay says plans for an FTA with the EU will not be hindered by the Brexit
- Oxford University academic Malcolm McCulloch predicts the imminent death of the internal combustion engine