Debenhams CEO quits after lenders take control
19.04.19: Debenhams said on 18 April 2019 its chief executive Sergio Bucher had decided to step down, nine days after the ailing British department store group's lenders took control. The group's non-executive chairman Terry Duddy will assume the role of interim executive chairman until a permanent replacement is found.
Bucher, a former Amazon executive who joined Debenhams in October 2016, said that with new financing facilities in place it was time to move on.
Administrators were appointed to the group, which had been hit by a sharp slowdown in sales, high rents and ballooning debt on April 9.
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