Truworths announces successor to CEO Michael Mark
Mark‚ who has been CEO of the group for 23 years‚ has decided not to renew his contract‚ which expires in 2015.
Truworths said that Garbino was CEO of prominent French fashion retail group Kiabi and had been in its employ since 1992. He was appointed CEO in 2007 after serving as general manager of the group's Spanish division.
"Kiabi is a fashion retail chain that sells commercially priced fashion apparel to ladies‚ men and children.
"It employs more than 7‚500 people and delivered revenue of approximately €1.5bn in its most recent reporting period‚" Truworths said in a statement.
The company said Garbino would work closely with Mark for as long as necessary to ensure a smooth transition. It said it envisaged Mark continuing to serve on the board of the company after his retirement as CEO.
Source: BDpro via I-Net Bridge