Iceland has replaced its retail director with the man he replaced 18 months ago.
It has appointed store development director Mark Yeo as retail operations director, following retail director Ted Smith’s resignation a week earlier. The move follows the announcement last week that
Mike Coupe, managing director of Iceland, will be leaving the company in September.
Smith joined Iceland as retail director from Wickes in June 2002, taking over from Yeo who became store development director.
According to Iceland, having seen through the first half of its store development programme, Smith has decided to move on.
Yeo has moved back to managing retail operations under a slightly different title.
Head of appliances Ramon Mehra has been chosen to take over from Yeo as store development director.
Although Iceland played down the changes, one analyst said Smith’s departure was a symptom of the company’s ongoing struggles: “Smith is the third person to be in the role in three years. He was chief executive Bill Grimsey’s appointment - why has he gone if everything is going so well?”
He argued that the company’s operating profit was still falling and said last week’s third quarter sales figures looked good only in comparison with 2002, which had been hit by its unsuccessful promotional programme.
Rod Addy
It has appointed store development director Mark Yeo as retail operations director, following retail director Ted Smith’s resignation a week earlier. The move follows the announcement last week that
Mike Coupe, managing director of Iceland, will be leaving the company in September.
Smith joined Iceland as retail director from Wickes in June 2002, taking over from Yeo who became store development director.
According to Iceland, having seen through the first half of its store development programme, Smith has decided to move on.
Yeo has moved back to managing retail operations under a slightly different title.
Head of appliances Ramon Mehra has been chosen to take over from Yeo as store development director.
Although Iceland played down the changes, one analyst said Smith’s departure was a symptom of the company’s ongoing struggles: “Smith is the third person to be in the role in three years. He was chief executive Bill Grimsey’s appointment - why has he gone if everything is going so well?”
He argued that the company’s operating profit was still falling and said last week’s third quarter sales figures looked good only in comparison with 2002, which had been hit by its unsuccessful promotional programme.
Rod Addy
No comments yet