Glassons splits CEO role in two

Glassons will be split into Glassons New Zealand and Glassons Australia.

Glassons, the women's wear brand owned by Hallenstein Glasson Holdings, has split its chief executive role into two after the departure of Di Humphries, replacing her with separate New Zealand and Australian heads as it seeks to establish itself further across the Tasman.

Humphries left the company at the end of September, after almost a year-and-a-half back at the clothing chain, having returned the Glassons women's wear brand back to profitability. She had run Glassons before being poached by Pumpkin Patch in 2012. Hallenstein Glasson boosted sales 7 percent and profit by 25 percent in the year ended Aug. 1, bouncing back from 2016 when the struggling women's wear division and a margin squeeze from increasingly expensive imports sapped earnings.

In a statement, the company said it had reviewed the Glassons leadership structure and "for the next stage of our journey" has appointed April Pokaia as CEO of Glassons New Zealand and James Glasson as CEO of Glassons Australia. The two will report to the group chief executive Mark Goddard.

Pokaia, who worked for Glassons for 13 years before moving to work as Cotton On's brand manager in 2016, will take up the role from Dec. 1, while Glasson, the general manager of Glassons Australia, will take up the role immediately.

In the last financial year, Glassons sales in New Zealand rose 7.2 percent to $89.5 million while Australian sales gained 22 percent to $50 million. It has plans to open two new stores in Australia including one in Melbourne's CBD in the current year. Online sales grew 44 percent in the year, much faster than brick and mortar stores, and now account for 9 percent of total turnover.

The shares last traded at $3.34, and have gained 9.5 percent this year.

(BusinessDesk)