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Gloucestershire Business News

Deposed Superdry chief executive lands new role

Deposed Superdry chief executive Euan Sutherland has landed himself a new top job - although it can't be further removed from the world of cutting edge fashion.

His new role will see him take charge of the Saga group - the UK's leading specialists in products and services for the over 50s.

Mr Sutherland was the eventual fall guy in the bitter boardroom battle for control of the Cheltenham clothing giant, resigning from his post as Superdry CEO when Julian Dunkerton returned to the firm.

He resigned from his position after he vehemently opposed Dunkerton's return to the firm and was subsequently placed on gardening leave complete with a new £1million severance payment.

That was only fully-payable if he was still to find work by April 2020, something he has managed to do with a new role at Saga.

Confirming Mr Sutherland's appointment from January 6, a statement from Saga said: Euan has substantial experience having led major consumer-facing businesses, including financial services, through periods of change, both in the UK and internationally.

"Most recently he was the CEO of Superdry plc, the global digital brand, for five years. In that time Euan led a strategy focused on customer insight, innovation and digital, international and wholesale expansion.

"Prior to this Euan was the Group CEO of The Co-op Group, the mutual retailer, insurance and funeral services business where he led a significant transformation programme resulting in a more efficient and profitable business.

"Before that, he was Group COO & CEO UK at Kingfisher plc, and also has a background in global FMCG brands having worked at Mars and Coca-Cola earlier in his career. He is a non-executive director of Britvic plc.

Saga chairman Patrick O'Sullivan said: "I am very pleased that Euan is joining Saga at this important time in the development of the business.

"He has substantial experience across several consumer-facing businesses that will be invaluable as we continue the Saga transformation, with our customers at the heart of our strategy.

Euan Sutherland added: "I am hugely excited to join Saga. This is a unique British brand that has a strong heritage, great people and significant potential.

"I look forward to working with the Board and the whole of the Saga team to further unlock this potential and deliver for our customers and shareholders."

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