What: Manju Malothra resigns after 25 years at Harvey Nichols.

Why it is important:3 years after the end of the pandemic, and after the replacement of Stockmann’s CEO, who also had to weather the Covid-19 crisis, crisis leaders are now being replaced in order to reconnect with growth.

Harvey Nichols CEO Manju Malhotra, who served for 25 years at the luxury department store, has resigned. She will step down at the end of the year. Pearson Poon, executive director and son of owner Sir Dickson Poon, will take over as vice chairman until a permanent replacement is found.

Malhotra highlighted her successful tenure and collaboration with talented individuals. The retailer faced challenges due to the pandemic, resulting in a £30 million loss for the year ending May 2022 despite a 58% sales surge to £192 million.

Harvey Nichols CEO resigns