Debenhams chief to step down

John Lovering is expected to announce this week that he will stand down as chairman of Debenhams next year, triggering a boardroom shake-up at the department-store chain.

Lovering, one of the retail sector’s best-known entrepreneurs, has been chairman of the company since December 2003, and led its flotation on the stock market in May 2006.

Lovering has just turned 60 and will step down to pursue other interests. He runs a charitable foundation, but friends say he may be tempted back into a top job if the right opportunity comes up. Lovering’s intention to stand down will be revealed as Debenhams unveils its full-year results this week. It is forecast to report profits of £120-£130m, up from £110m last year.

Click Here: Golf Equipment Online