Harrods appoints new chief financial officer

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Harrods has named Tim Parker as group chief financial officer as it seeks to build operations following tough trading during the pandemic.

Tim Parker

Parker joins the department store business from Jardine Matheson, the Asian-based conglomerate whose interests include retail businesses such as grocer Wellcome in Hong Kong, Giant in Malaysia and Singapore, and department store business Robinsons in the Philippines.

Before joining Jardine Matheson, Parker qualified as an accountant with PwC in London.

Harrods managing director Michael Ward said: “As we continue to recover from the Covid-19 pandemic and look towards the future, it is more important than ever to have the right talent in place to guide us through the next stage of our business strategy.

“We are delighted to welcome Tim to Harrods. I know the business will gain hugely from his leadership and extensive experience in a fast-moving market.”

As it aims to bounce back from the effects of the pandemic, Harrods is investing in-store and in its online businesses “including opening new divisions and expanding ambitious plans for H Beauty stores across the UK and an increased presence in China and the Middle East”.

In its last reported year, to January 30, 2021, Harrods posted a loss after tax of £57.3m versus a profit of £203.3m the prior year. Turnover crashed 50.7% to £429.5m over the period.