The chief executive of Claire’s Accessories, Beatrice Lafon, has resigned after two years at the head of the business. Ms. Lafon previously served as CEO of TJ Hughes Limited from January 2011 to April 2011.

She will be replaced by Ron Marshall, formerly CEO of book chain borders, who has been a board member of Claire’s since 2007. The previous CEO, James Fielding, was also head of the company two years. He went on to become global head of consumer products and retail at Dreamworks Animation. The accessories brand saw a fall in year-on-year revenue of $1.4 billion this year in comparison to $1.49 billion the year before. Meanwhile, losses grew from $236.4 billion to $212 billion.

Claire’s has been controlled by New York-based private equity firm Apollo Global Management since 2007. Today, there are 3,450 Claire’s stores in 47 countries.

Approximately 700 of these are retailers, including Toys R Us, a partnership brokered by Ms Lafon.