Truworths CEO designate hands in resignation

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Business Day reports: Chris Gilmour, an analyst at Absa Investments, said the announcement suggested something "untoward".

"It doesn't sound right - something reeks. I don't know if he even physically ever took over from Michael Mark in the first place. They needed someone new to breathe life into the business. Truworths is not what it once was. It doesn't hold its iconic status. Mr Price, Woolies and The Foschini Group have taken them over," he said.

For more:

• BDlive: Truworths CEO designate quits