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Last Updated: Thursday, 19 January 2006, 10:44 GMT
Matalan chief set to leave firm
Matalan store
Matalan sales have been under pressure
Discount clothing retailer Matalan is to lose its chief executive, John King, at the end of the year.

The company said that Mr King would be returning to the US, where he had worked before he took over at Matalan in 2003.

He has agreed to continue in his role until the end of December, and will run the firm until a replacement is found.

Matalan said that in recognition of this, Mr King would get an extra 12 months of pay at the end of 2006.

Last week, Matalan said it had managed to slow the decline in its sales over the Christmas period after a late rush for warm clothing and coats. Like-for-like sales were down 5.5% in the 10 weeks to 7 January, whereas for the 19 weeks to the same date they were down by 7.6%.

"John has led Matalan through a difficult period and has done much to position the business to face the challenges ahead," said Matalan chairman John Hargreaves.

Matalan has experienced a rapid turnover of chief executives in recent years. Angus Monro stood down in 2001, and Paul Mason, who was poached from Asda in 2002, left in March 2003 following a disagreement over management style.


SEE ALSO:
Matalan weathers tough climate
11 Jan 06 |  Business
Matalan profits hit by sales drop
01 Nov 05 |  Business
Matalan upbeat despite sales fall
31 Aug 05 |  Business
Matalan confirms 300 redundancies
19 Aug 05 |  Lancashire
Matalan woes persist as sales dip
07 Jul 05 |  Business
Matalan cuts jobs in costs drive
12 Jun 05 |  Business


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