Debenhams appoints a former House of Fraser as chairman

Debenhams rearranges its helm. The British department stores group has signed Mark Giffford, former chief financial officer of House of Fraser, as the new chairman of the company. The executive replaces Stefaan Vansteenkiste, who joined the company last April to undertake its restructuring and was appointed chief executive officer in August.

Giffford has a long career in the sector after having worked for thirteen years as chief financial officer of House of Fraser, until 2015. Between 2015 and 2018 the director was the financial officer of Game Group.

Debenhams ended its fiscal year 2018 on the low, with 556.3 million euros. A year ago, the company made a profit of 66.7 million euros. The department store has recently made a cash injection of around fifty million pounds (61.1 million dollars) to invest in marketing actions for the holiday season.