Laura Ashley chief executive and executive director Kwan Cheong Ng will step down from his position on 30 April, although he will remain part of the board as a non-executive director.

The women’s fashion and homeware retailer’s current chief operating officer Katharine Poulter will succeed Ng in both positions, effective from 1 May.

She has 25 years of retail experience, previously at Marks & Spencer, Kingfisher, Wilko, Tesco and Home Retail Group.

In a statement, the board thanked Ng for his contribution and wished him the best in his retirement.

The move comes only a few months after Laura Ashley’s finance director and joint chief operating officer Sean Anglim resigned, following more than two decades with the business.

In its latest results, Laura Ashley reported a loss before tax of £14.3 million for the year to 30 June, compared with a £100,000 profit during the same period in 2018.

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