Baroness Karren Brady appointed chairman of Sir Philip Green's Taveta

17 Juillet, 2017, 22:39 | Author: Marc Bacque

Philip Green has appointed well-known business woman Karren Brady to chair the parent company of his Arcadia retail empire.

Baroness Brady will take over the role from Lord Grabiner, who is stepping down from the position of non-executive chairman.

Grabiner spent 15 years leading the Taveta board, which came under fire from MPs for providing "weak" corporate governance that contributed "substantially" to the demise of BHS.

Arcadia turns over around £2bn from its brands which include Topshop, Topman, Dorothy Perkins, Miss Selfridge, Burton and Evans. Taveta is the Green family firm, owned by Sir Philip Green's Monaco-based wife Tina.

Brady (48), who has been a non-executive director of Taveta since 2010, has assumed the role of non-executive chairman with immediate effect, succeeding Anthony Grabiner, who has been with the company for 15 years.

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Sir Philip owned BHS for 15 years before selling the loss-making retailer to Dominic Chappell, a serial bankrupt with no retail experience, for £1 in 2015. It collapsed controversially just one year later leaving 11,000 staff without jobs and a hole in its pension fund, which Green later helped to fill with a personal contribution of £363m following an MPs' inquiry.

Ms Brady is the chief executive of West Ham United football club and an adviser to Lord Alan Sugar on the BBC reality show The Apprentice.

The announcement follows a year of tough trading for Taveta Investments, which saw annual profits take a hit from falling sales and costs linked to the collapse of BHS.

"It is a privilege to have been invited to chair the board and I look forward to working with my colleagues as we concentrate on driving the Arcadia brands forward on their global expansion", said Brady.

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