After joining the board a year ago, Jack Wills’ non-executive chairman Derek Lovelock is set to step down from his position at the end of the year. The retailer has said that Richard Wyatt, vice-chairman of Rothschilds, will replace Mr Lovelock.
Regarded as a fashion veteran, Mr Lovelock was appointed to the role in September last year after Jack Wills chief executive Peter Williams teamed up with private equity firm Bluegem in a multimillion-pound buyout of the retailer.
Mr Wyatt has more than 30 years’ experience in the UK financial industry and was lead adviser to Mr Williams last year during the joint deal with Bluegem, which owns upmarket London department store Liberty, to buyout longstanding investor Inflexion.
Jack Wills chief executive, Peter Williams said: “Derek joined us as chairman a year ago to help the business through the first 12 months after the deal with BlueGem.
“During that first year the business has undergone a significant revitalisation and we have hired some very exciting new talent.
“The business is in increasingly great shape and so, just over a year on, Derek will be stepping down at the end of this year. I would like to personally thank Derek for everything he has done for Jack Wills.
“I have worked very closely with Richard for some time, including through the transaction with BlueGem, and am very excited that he will be formally joining us as chairman.”
