Debenhams poised to name Mark Gifford as new chairman

Debenhams is reportedly about to name Mark Gifford, former chief financial officer at House of Fraser, as its new chairman.

According to Sky News, Gifford’s appointment as chairman of Debenhams holding company, Celine Holdings, could be revealed by the end of this week. 

His career included being the chief financial officer for House of Fraser until 2015, where he joined Game for over two years.

Gifford is currently holding the position of chairman at retailer Radley London as well as working as a non-executive director for GGI, the parent company of Ann Summers’. The new chairmans immediate tasks will include assisting CEO,Stefaan Vansteenkiste, in ensuring a “successful festive performance in challenging trading conditions.”

If appointed chairman, Gifford would succeed former Argos and Homebase boss, Terry Duddy, who has been chairman of Debenhams plc.

The arrival of Gifford will come after the department store confirmed that it lined up £50m of additional financial support to see it through to the Christmas trading period. The first trance of store closures will see over 20 Debenhams stores shut its doors early next year.

Retail Sector has contacted Debenhams for comment.