Selfridges CEO to step down after four years at company

Andrew Keith has announced he is stepping down from his role as CEO of Selfridges in the UK in order to “pursue new ventures”. Selfridges Group CEO André Maeder, who joined the company in May, is set to take over his responsibilities in the UK after Keith leaves the company this autumn. Keith first joined Selfridges as managing director in 2020 and helped navigate the business through the pandemic, the sale of Selfirdges and the recent bankruptcy of co-owner Signa. Keith assumed the CEO role last year after Central Group took a majority stake in the business. Tos Chirathivat, chairman of Selfridges Group and executive chairman and CEO of Central Group, said the company was “grateful to Andrew for his contribution to the success of our iconic UK business”. He said: “The launch of the Selfridges Strategy under Andrew’s leadership has resulted in many new customer innovations and enhancements. He has also been instrumental in helping to drive and champion the brand’s creative expression through a roster of world-leading collaborations and thought-provoking campaigns. We thank Andrew for his hard work and wish him all the very best in his future endeavours.” Keith added: “Selfridges is one of the world’s great luxury stores and it has been an immense honour to lead it over the past few years. From my first day I have sought to build on its amazing reputation as a creative, inspiring destination where everyone is welcome. However, I feel that now is an appropriate time to leave the business and pursue new ventures. I am proud to be leaving Selfridges in such a strong position and to pass the baton to André to continue this journey with our great team.” André Maeder, CEO of Selfridges Group, said: “I want to thank Andrew for his exceptional leadership in helping to create the extraordinary experience that is Selfridges. On behalf of all his colleagues, I wish him all the very best in the next phase of his career. I am extremely excited about the opportunity to work more closely with the Selfridges team – now as head of this globally recognised brand. “We will focus our efforts on innovation, enhancing customer experiences and maintaining the exceptional quality that defines our legacy. Together, we will ensure that our brand continues to set the standard in the industry, providing the unrivalled offering Selfridges is renowned for.” Last week, it was reported that Saudi Arabia’s Public Investment Fund made an offer to raise its stake in Selfridges from 10% to 50%. The move comes after the department store’s co-owner Signa fell into insolvency earlier this year. It had also been reported that Central Group was interested in buying out Signa’s remaining stake in the department store chain with another partner. It was said to be in talks with several sovereign wealth funds and tycoons about a potential partnership. Signa acquired Selfridges back in 2021 for £4bn but called in restructuring experts last November before filing for insolvency amid a cash crunch. Following Signa’s turmoil, Central moved to seize control of the operating business, converting a £317m loan into a majority stake in the retailer.