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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.