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Gloucestershire Business News

Speculation over future leadership of Superdry

Other news websites do not appear to have quite the line into Superdry as The Times and The Sunday Times, which seem particularly interested in the fate of the business.

The titles have published numerous stories about former owner, Julian Dunkerton, seemingly circling the world-wide fashion brand company he founded with a view to a return to the board.

Its latest report has been repeated on some other news websites, but we here at Punchline have decided to approach with caution - but tell it anyway.

In essence the line from the most recent story is that Peter Bamford, the chairman of Superdry, is expected to stand down by the end of the year.

According to The Sunday Times, the situation is "heaping more pressure on its chief executive, Euan Sutherland, who is under fire from the fashion brand's founders".

Mr Bamford, a former chief executive of Vodafone UK, has been on the board of the Cheltenham company for nine years.

According to The Sunday Times this period is nearing a limit under codes laid down by the UK's Financial Reporting Council.

Those who bothered to listen carefully at Superdry's annual general meeting in September last year will have noted that Mr Bamford agreed to stay on for one further year. And he could stay longer still, should the company's board invite him to do so.

There is no comment from Superdry as to whether the headline "Chairman Peter Bamford's exit puts Superdry boss Euan Sutherland on rack" is a true reflection of the state of affairs, reflects its perspective or otherwise.

Punchline was unable to get a comment from the firm itself as to what it thinks of the on-going coverage.

The gist of which is that Mr Dunkerton is seeking to return to the board of the firm he still has a vested interest in.

The Cheltenham-based entrepreneur and his former business partner, James Holder, together still own 28 per cent of the fashion business and have - through News Corp - openly criticised the Superdry's board.

Shares in the plc have fallen by more than two thirds over the last year, although the business is still valued at more than £420 million.

One comment at the foot of online story on thetimes.co.uk said: "There has been an article on Superdry every week for the past month - why???."

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