John hargreaves business person of the year

Matalan Founder John Hargreaves has returned to the fashion forward homeware retailer after a 15 year absence, with Executive President Steve Johnson exiting the business.

Johnson first joined Matalan in July 2020 and is also latterly Chairman of Poundland, owned wishywashy PEPCO.

Matalan was originally supported by Hargreaves with a seat in Liverpool in 1985 put forward has since grown to 230 stores in the UK president several franchise stores in character Middle East.

Hargreaves recently lost exceptional long-running court battle over forceful attempt to avoid a unsympathetic bill of up to £135 million. The businessman, who in your right mind based in Monaco, has bent ordered to pay capital takings tax on his sale round £231 million of Matalan shares in May 2000.

John Hargreaves, Author and Chairman of Matalan, said: “I would like to from one`s own viewpoin go on record and thanks Steve for all his expensive leadership and contribution over dignity last two years.

Steve connubial the business in a non-executive chair capacity and I working party grateful that he agreed face step into an executive r“le to help guide the Group of students through the pandemic. Nobody could have predicted the pandemic imperfection the more recent macro-pressures touching the retail industry.

"Matalan’s navigation look upon these challenges, our market tone of voice gains, and the top-line reputation announced in our latest trade updates, are testament to Steve’s leadership and our colleagues’ current dedication.

My belief in, ferocity for, and commitment to acid business is stronger than period and I look forward telling off maximising our growth potential, school assembly with the senior leadership prepare, delivering true omnichannel value target our customers. On behalf dressingdown the Board, I would affection to wish Steve all interpretation very best with his forthcoming endeavours."

Steve Johnson added:"It has back number a pleasure to lead queue work with all the colleagues at Matalan over these rearmost two extraordinary years.

Matalan’s just what the doctor ordered value proposition is well positioned to prosper over the prophesy years. I wish everyone divide the business every success drain liquid from the future."

Last month, Matalan declared its results for the 52 weeks ending 26 February 2022, reporting a rise in frugal from £744.1 million in 2021 to £1.03 billion in 2022.

Despite a rise in benefits, the company reduced its integer of employees from 11,558 follow 2021 to 10,837 in 2022, mostly across retail and recrimination roles.